Want to make a deal on a short sale?


	When a homeowner owes more on their house than its value, it's becoming increasingly common for the lender to agree to a short sale, whereby the lender agrees to release the mortgage for a sum less than what's due. Should you have any questions regarding real estate in St. Petersburg, Florida, contact me here or e-mail me.

Purchasing a short sale in St. Petersburg, Florida on your own is risky. Contact Quantum Realty Solutions for expert advice.

Are short sales good deals?

Every now and then a good deal will come along. Most people hear the phrase "short sale" and automatically think of a seller that is in default and must sell their home quickly to avoid further financial problems. This is at times the case and can be an opportunity for a buyer to take advantage of 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 closer to true market values rather than below.

How do I buy a short sale?

Always do your research before making any offers. Using a qualified real estate agent from Quantum Realty Solutions to assist you with researching a property can help you make informed decisions. We can help find out to whom the property is titled, how much is owed to the lender, and whether or not a foreclosure notice has been filed. Obtaining this data can help you make a decision about how much to offer.
Use a real estate agent with short sale experience. The real estate agents at Quantum Realty Solutions can assist you in expediting the transaction and make certain you're protected. Don't allow inexperience to impede the closing process. Let our experience and knowledge work in your favor.
Even with an experienced real estate agent and under the best of situations, buying a short sale property will generally take longer than a typical real estate transaction. Be informed that most short sales will not close in less than 30 days. Remember that you're not only having to satisfy the seller, but the lender must also agree to the discounted price. In most cases your offer will be presented to a committee for approval which will add time - sometimes even 2 to 3 months.
Home protection warranties, buyer credits and allowances, and closing cost concessions are typically not up for negotiation when working with a short sale. The lender will be selling the property just the way it is which means the lender will not be paying for repairs. Always reserve the right to have inspections for pests, HVAC, electrical, and other critical areas. At Quantum Realty Solutions, 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 inspection results.

When it is time to buy, whether it's a short sale or a typical home sale, Quantum Realty Solutions can help you. Utilize our experience and knowledge of real estate to be confident that you are getting a fair deal and are protected during the complete matter.