Looking 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 a house, it's called a short sale. For more information, just contact me through my site or e-mail me. I'm happy to address questions you have about real estate short sales.

Purchasing a short sale in St. Augustine, Florida on your own is risky. Contact ROSSELLA BARON for expert advice.

Can I get a bargain on a short sale?

Sometimes. Most people hear the term "short sale" and routinely think of a seller that is in default and needs to sell their property quickly to avert further financial problems. This is at times 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 isn't delinquent with their payments, but property values have fallen. In cases such as these the "bargain" price may in fact be closer to true market values rather than below.

How do I buy a short sale?

Before you make any purchase offers, do your homework. Using a knowledgeable real estate professional from ROSSELLA BARON to assist you with researching a property can 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.
Get a real estate professional with short sale experience. The real estate agents at ROSSELLA BARON can assist you in expediting the transaction and make sure you're protected. Don't allow inexperience to slow down the closing process. Put our knowledge and experience to work for you.
Even with an experienced real estate agent and under the best of situations, buying a short sale property will usually take longer than a typical real estate transaction. Be informed 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 terms of the sale. A lot of the time your offer will be sent to 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 usually not negotiable when working with a short sale. The lender will be selling the property as seen which means the lender isn't going to pay for repairs. Always reserve the right to have inspections for pests, HVAC, electrical, and other critical areas. At ROSSELLA BARON, when we write an offer, we're looking out for your interests above all else and will always suggest that you make your offer contingent upon the inspection results.

When you're ready to buy, whether it's a short sale or a typical home sale, ROSSELLA BARON is available for you. Utilize our experience and knowledge of real estate to feel confident that you're getting a fair deal and protect yourself during the whole process.