Looking to make a deal on a short sale?


	If a seller owes more on their house than its value, it's becoming increasingly common for the lender to agree to a short sale, whereby the lender agrees to release the mortgage for a sum less than what's due. If you have any questions about real estate in Naples, Florida, contact me here or e-mail me.

Purchasing a short sale in Naples, Florida on your own is risky. Contact Priority Business Brokers, LLC for expert advice.

Are short sales good deals?

Every now and then a good deal will come along. Most people hear the words "short sale" and instinctively think of a seller that is in trouble and needing to sell their home quickly to avert further financial problems. This is occasionally the case and can be an opportunity for a buyer to take advantage of another's misfortune. More commonly, a lender may consider a short sale even if the seller is current with their mortgage, but property values have depreciated. In these cases the discounted price may in fact be in line with current market values, not below.

How do I buy a short sale?

Prior to making any purchase offers, do your homework. Using an experienced real estate professional from Priority Business Brokers, LLC to support your research of a property will help you make educated decisions. We can help learn to whom the property is titled, how much is owed to the lender, and whether or not a foreclosure notice has been filed. Finding this information can help you make a decision about how much to offer.
Hire an agent with short sale knowledge. The real estate agents at Priority Business Brokers, LLC can assist you in expediting the transaction and make sure you're protected. Don't let inexperience slow down the closing process. Let our 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 generally take longer than a typical real estate transaction. Be aware that many 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 go before a committee for approval 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 dealing with a short sale. The lender will be selling the property as seen which means the lender isn't going to pay for repairs. Make sure you reserve the right to have the property inspected for pests, HVAC, electrical, and other critical areas. At Priority Business Brokers, LLC, when we write an offer, we are looking out for your interests first and will always suggest that you make your offer contingent upon the inspection results.

If you're ready to buy, whether it's a short sale or a typical home sale, Priority Business Brokers, LLC can help you. Utilize our experience and knowledge of real estate to feel confident you are getting a fair deal and remain protected during the whole transaction.