SHORT SALES - GOOD OR BAD IDEA

Print this blog entry Send this blog entry to a friend
Real Estate News

With all the upside-down borrowers out there today, is purchasing

a pre-foreclosure short sale home a good idea or bad idea?  If you have

the money and time, it is worthwhile to take advantage of purchasing a

short sale property.

 
Short sales are situations where the seller owes more than he can

sell the property for at current market conditions. If you are successful at

getting the seller’s bank to accept the reduced price, you will be able to

purchase the home at or slightly below market prices.

 
However, keep in mind that the process could take anywhere from

30 to 90 days and there may be other buyers making offers at the

same time which could increase the sales price.  Also, the properties

may not be in top condition because the struggling homeowners

have not been financially able to make repairs so you may have

to budget for fix-up and repair costs.  It is recommended that you

work with a knowledgeable and experienced buyer’s agent.

 
Good news is Freddie Mac and Fannie Mae have recently announced

that they are speeding up the approval process on short sales in order

to avoid costly foreclosure proceedings.

 
If you are in the market to buy Boca Raton real estate or sell your

Boca Raton home, please contact Caesar & Eileen Parisi today!

Date: Sunday, April, 13th 2008 @ 04:20:39 PM
Views: 1938

Furl Digg this post!


This blog entry currently has 1 comments posted.

Joleen Nicodemus

We can handle all the short sale paperwork for you, as well as getting you the max commission rate and lower sales price on properties. We can also offer foreclosure defense if needed and credit restoration for the seller so that they can buy a replacement property. Please contact me. Thanks, Joleen

Security Code:

Back

Featured Listings

Latest Blog Entries

Mizner Falls - Boynton Beach Real Estate

Mizner Falls is an upscale active adult 55+ gated Boynton Beach community located  on the south side of Boynton Beach Blvd. between Jog Road and the Florida Turnpike, where you will find beautiful  3 bedroom Tuscan-style homes, a community …

Read Full Post...

Boca Raton Real Estate Foreclosures

Boca Raton Foreclosures Affect Everyone   Even if you are not involved in a Boca Raton foreclosure and are making your mortgage payments on time, your neighbor’s foreclosure is affecting you and your neighborhood’s home values. It …

Read Full Post...