Ready to buy a short sale?


	When a lender and a homeowner agree to release a mortgage for an amount less than what's owed on the property, it's called a short sale. Should you have questions about real estate in St. Cloud, Florida, contact me here or e-mail me.

Purchasing a short sale in St. Cloud, Florida on your own is risky. Contact Godwin Realty Group for expert advice.

Are short sales good deals?

The short answer is "sometimes". Many people hear the phrase "short sale" and automatically think of a seller that is insolvent and must sell their home quickly to avoid further financial problems. This is occasionally the case and can be an opportunity for a buyer to do well from another's misfortune. In contrast, a lender may consider a short sale even if the seller is current with their mortgage, but property values have depreciated. In these instances the "bargain" price may in fact be in line with true market values rather than below.

Are you ready to buy a short sale property?

Always do your research before making any offers. Using an experienced REALTOR^® from Godwin Realty Group to help you research a property will help you make educated decisions. We can help reveal to whom the property is titled, how much is owed to the lender, and whether or not a foreclosure notice has been filed. Locating this information can help you decide how much to offer.
Get a REALTOR^® with short sale expertise. The real estate agents at Godwin Realty Group can help expedite the transaction and make certain you're protected. Don't permit inexperience to delay the closing process. Put our knowledge and experience to work for you.
Even with an experienced real estate agent and under the best circumstances, buying a short sale property will generally take longer than a typical real estate transaction. Be aware that a majority of short sales will not close in the customary 30 days or less. Remember that you're not only getting approval from the seller, but the lender must also agree to the sale terms. In most cases your offer will be sent to a committee to approve 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 working with a short sale. The lender is selling the property as seen which means the lender won't be paying for repairs. Be sure to reserve the right to have inspections for pests, HVAC, electrical, and other critical areas. At Godwin Realty Group, when we write an offer, we're looking out for your interests first and will always recommend 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, Godwin Realty Group can help. Use our experience and knowledge of real estate to be certain you are getting a fair deal and remain protected during the entire purchase transaction.