Ready to purchase a short sale?

A short sale is when the homeowner's lender consents to receive a reduced payoff to release a mortgage. If you have questions about real estate in Tallahassee, Florida, contact me here or e-mail me.

Purchasing a short sale in Tallahassee, Florida on your own is risky. Contact Quest Real Estate Services of Florida, LLC for expert advice.

Can I get a bargain on a short sale?

From time to time, yes. Many people hear the term "short sale" and instinctively think of a seller that is insolvent and needing to sell their property quickly to avoid further financial problems. This is at times the case and can be an opportunity for a buyer to cash in on another's misfortune. Alternatively, a lender may consider a short sale even if the seller is current with their mortgage, but property values have fallen. In these cases the reduced price may in fact be closer to current market values, not below.

How do I buy a short sale?

  • Always do your research before making any offers. Using a qualified real estate agent from Quest Real Estate Services of Florida, LLC to help you research a property can help you make knowledgeable decisions. We can help learn to whom the property is titled, the amount owed to the lender, and whether or not a foreclosure notice has been filed. Finding this data can help you decide how much to offer.
  • Use a real estate professional with short sale expertise. Quest Real Estate Services of Florida, LLC can help expedite the transaction and make sure you're protected. Don't let inexperience impede the closing process. Let my experience and knowledge work for you.

  • Even with an experienced real estate agent and under the best of situations, buying a short sale property will usually take longer than a typical real estate transaction. Be aware that most short sales will not close in less than 30 days. Remember that you're not only getting approval from the seller, but the lender must also agree to the discounted price. It's not uncommon that your offer will be presented to a committee to approve or disapprove, which will add time - sometimes even 2 to 3 months.
  • Home warranties, buyer credits and allowances, and closing cost concessions are normally not negotiable when buying a short sale. The lender will be selling the property "as is" which means the lender won't be paying for repairs. Make sure you reserve the right to have the property inspected for pests, HVAC, electrical, and other critical areas. At Quest Real Estate Services of Florida, LLC, when I write an offer, I will be looking out for your interests first and will always suggest that you make your offer contingent upon the results of the inspections.
When you're ready to buy, whether it be a short sale or a typical home sale, Quest Real Estate Services of Florida, LLC can help. Utilize my experience and knowledge of real estate to be confident that you're getting a fair deal and are protected during the whole process.

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