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Short Sale Roller Coaster Ride - Don't Say I didn't Warn You...

My friend from Lake Mary makes some excellent points regarding the emotional factors triggered by engaging in a short sale transaction. Thank you, Debbie. I appreciate you making this re-blog available for my readers.

Excitement...Frustration...Hope...Desperation...Anger...Disappointment and Disgust!  These are the feelings that a buyer is likely to have during the 3rd party approval process of a home that is a short sale...and that's during a sale THAT ACTUALLY ENDS UP CLOSING.

Once you write a contract on a short sale you could be waiting weeks and often months for an answer from the seller's lender.  Should you consider writing an offer on a short sale?  Please think about this first...

Short sales are not for everyone:

If you have a specific timetable to meet... Don't write a contract on a short sale.

If you can't accept the property in the condition that it is today... Don't write a contract on a short sale.

If you don't have a backup plan... Don't write a contract on a short sale.

If the seller of the property is an investor... Don't write a contract on a short sale.

If you are considering the purchase of a short sale...talk to a REALTOR.  Your REALTOR will advise you about the process and whether or not you are a candidate for a short sale.  The process is often long and leaves many without a successful conclusion.

Do the rewards often times out way the risks? Absolutely, but only you can decide if you are willing to wait after you know all the facts. 

Pink Flamingo 

 

Debbie Summers

 

 

 Move To Lake Mary (Orlando & Central Florida)

Licensed Real Estate Professional, ALHS, e-PRO @ 407.758.1020 or Debbie@CasAndDebbie.com 

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Comment balloon 2 commentsC Tann-Starr • October 25 2008 05:20PM

Comments

Pink Flamingo

 

Carolyn - I'm honored that you thought my post was RE-blog worth... Thank you, it is an honor to have a place in your space!

 

 

Posted by Debbie Summers (Charles Rutenberg Realty ) about 10 years ago

Debbie, thank you for such kind words. They are very much appreciated. I'm glad you made this available for a re-blog and that I could present it to my readers. :-)

Posted by C Tann-Starr (Tann Starr & Associates, Inc.) about 10 years ago

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