Ready to make a deal on a short sale?


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

Purchasing a short sale in Wellington, Florida on your own is risky. Contact Keyes Realty for expert advice.

Are they good deals?

Occasionally. Many people hear the words "short sale" and instinctively think of a seller that is in financial trouble and needs to sell their property fast to prevent further financial problems. This is at times the case and can be an opportunity for a buyer to make the most of another's misfortune. Alternatively, a lender may consider a short sale even if the seller is current, but property values have declined. In these instances the reduced price may in fact be closer to true market values, not below.

How do I buy a short sale?

Before making any purchase offers, do your homework. Using an experienced real estate agent from Keyes Realty to help you research a property can help you make knowledgeable decisions. We can help find out to whom the property is titled, how much is owed to the lender, and whether or not a foreclosure notice has been filed. Obtaining this info can help you determine how much to offer.
Hire an agent with short sale knowledge. The real estate agents at Keyes Realty can help expedite the transaction and make sure you're protected. Don't permit inexperience to slow down the closing process. Put our experience and knowledge to work in your favor.
Even in the best of situations and with an experienced real estate agent, buying a short sale property will usually take longer than a typical real estate transaction. Know that many short sales will not close in less than 30 days. Remember that you're not only having to get approval from the seller, but the lender must also agree to the sale terms. Commonly, your offer will be sent to a committee to approve or disapprove which will add time - sometimes even 2 to 3 months.
Home protection warranties, buyer credits and allowances, and closing cost concessions are typically not negotiable when dealing with a short sale. The lender is selling the property just the way it is which means the lender will not be paying for repairs. Be sure you reserve the right to perform inspections for pests, HVAC, electrical, and other critical areas. At Keyes Realty, when we write an offer, we're looking out for your interests first and will always suggest that you make your offer contingent upon the outcome of the inspections.

When it is time to buy, whether it's a short sale or a typical home sale, Keyes Realty is available for you. Use our experience and knowledge of real estate to be certain you are getting a fair deal and remain protected during the whole matter.