Short Sale Properties

Purchasing a short sale property

Just a few years ago, the term "short sales" was a relatively unheard of term in the real estate market.  Now they are as mainstream as a traditional real estate sale, if not more so.

What is a short sale?

A short sale is when a seller attempts to sell the property for less than what they owe on the property. Some lenders will consider a short sale of the property if certain criteria are met. Important factors to consider when purchasing a short sale listing are:

Has the lender approved a short sale process for the property? 
This is an important question. Many sellers today are advertising their property as a short sale listing when in fact they have no idea whether their lender will actually accept a short sale process for the property. 

Are you willing to wait through the process?

If you are in need of moving quickly, a short sale circumstance is probably not going to be the best route for you.  The short sale process can be long and exhausting and will require a lot of patience from both you and your Realtor.

Click here to view potential short sale properties in the Upper Keys

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