Want to purchase a short sale?

If a seller is upside down on their mortgage payments, they can sometimes get the lender to agree to a short sale, whereby the lender agrees to release the mortgage for an amount less than what's due.

Purchasing a short sale in Brandon, Florida on your own is risky. Contact CHOICE REALTY Carolmac & Co. Carolmac & Co., Inc. for expert advice.

Can I get a bargain on a short sale?

Occasionally. Most people hear the term "short sale" and routinely think of a seller that is in trouble and needing to sell their house quickly to prevent further financial problems. This is sometimes the case and can be an opportunity for a buyer to do well from another's misfortune. More commonly, a lender may consider a short sale even if the seller is current, but property values have fallen. In these instances the "bargain" price may in fact be consistent with actual market values instead of below.

How do I buy a short sale?
  • Always do your homework before making any offers. Using a knowledgeable real estate agent from CHOICE REALTY Carolmac & Co. Carolmac & Co., Inc. to support your research of a property can help you make educated decisions. We can help discover to whom the property is titled, the balance still owed to the lender, and whether or not a foreclosure notice has been filed. Having this data can help you determine how much to offer.
  • Use a real estate professional with short sale expertise. The real estate agents at CHOICE REALTY Carolmac & Co. Carolmac & Co., Inc. can aid you in expediting 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. Know that a majority of short sales will not close in less than 30 days. 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 seen by 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 typically non-negotiable when buying a short sale. The lender is 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 CHOICE REALTY Carolmac & Co. Carolmac & Co., Inc., when I write an offer, I'm looking out for your interests first and foremost and will always recommend that you make your offer contingent upon the results of the inspections.
If you're ready to buy, whether it's a short sale or a typical home sale, CHOICE REALTY Carolmac & Co. Carolmac & Co., Inc. can help you. Utilize my experience and knowledge of real estate to feel confident that you're getting a fair deal and will be protected during the full process.