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.
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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