Here Is another question I get asked a lot, is it hard to purchase a short sale home. Well my answer to that is what do you consider hard? In Orlando Florida the vast majority of homes on the market now are short sales. Here are a few tips I give potential home-buyers before they decided to purchase a short sale not necessarily in this order.
•1. A home may not really be a short sale ( lender approval is needed)
•2. Just because they are advertising a certain price, it may not sell for that price.
•3. Be aware of homes priced to low, remember if it seems to good to be true it is
•4. Be prepared to submit an offer higher than the lowball short sale offer; I educate my customer to submit an offer that is close to the market value.
•5. An educated Realtor, there are multiple things that need to be done (check and see if their are multiple liens, how much is actually owed on the house, make sure the listing agent has everything need so it does not delay the closing. etc).
•6. Be PATIENT, most (not all) short sales take 4 to 6 months to close, just because you submit an offer, you should be aware you could be outbid.
Buying a short sale in Orlando, Florida can be a bit overwhelming, it will require a lot of patience, but in the end you could own a piece of the American dream at a reduced price!
If you are interested in purchasing real estate in the Orlando, Florida area contact me .
Yvonne Long, Realtor
Innovative Realty Solutions Group, Inc