Looking to buy a short sale?


	When a lender and a seller agree to release a mortgage for an amount less than what's owed on the property, it's called a short sale. For more information, you can contact me through my site or e-mail me. I'm happy to answer any questions you have regarding real estate short sales.

Purchasing a short sale in Jacksonville, Florida on your own is risky. Contact Watson Referral Realty Inc. for expert advice.

Are short sales good deals?

From time to time, yes. Most people hear the words "short sale" and instinctively think of a seller that is in default and must sell their property fast to prevent further financial problems. This is at times the case and can be an opportunity for a buyer to make the most of another's misfortune. In contrast, a lender may consider a short sale even if the seller is current, but property values have depreciated. In these cases the "bargain" price may in fact be consistent with true market values instead of below.

Are you ready to buy a short sale property?

Prior to making any purchase offers, do your homework. Using a qualified real estate agent from Watson Referral Realty Inc. to support your research of a property can help you make educated decisions. We can help discover to whom the property is titled, how much is owed to the lender, and whether or not a foreclosure notice has been filed. Getting this information can help you determine how much to offer.
Hire an agent with short sale knowledge. The real estate agents at Watson Referral Realty Inc. can aid you in expediting the transaction and ensure that you're protected. Don't allow inexperience to impede the closing process. Put our experience and knowledge to work in your favor.
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 informed that many short sales will not close in the customary 30 days or less. Remember that you're not only having to satisfy the seller, but the lender must also agree to the discounted price. Commonly, your offer will be seen by 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. Make sure to reserve the right to have the property inspected for pests, HVAC, electrical, and other critical areas. At Watson Referral Realty Inc., when we write an offer, we are looking out for your interests first and will always advise you to 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, Watson Referral Realty Inc. can help you. Apply our experience and knowledge of real estate to feel confident that you're getting a fair deal and will be protected during the entire process.