Short sales do you stay away from them?

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June 15 2011 - Lake City
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Answers (6)

Profile picture for EllieFlower
Are there certain brokers that specialize in short sales?  Is there such a thing?  How would I find one - because they will all probably say they are "experts" - right?
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January 24 2012
The key here is patience.  If you have time, they can be worth the wait! There are some deals out there to be had. However, if you need to be in a home within a certain time frame - a short sale may not be your best option.  Some short sales can take place fairly quickly (I just had one close in about 60 days) and others many, many months.

It is also very important to work with an agent who is experienced in short sale negotiating.

Good luck!!
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January 24 2012
You can find some great deals on short sales right now in the Lake City, FL area. They are difficult both as a buyer or as a seller, and its important to find a professional to help guide you thru all the details. We have a team of short sale experts to assist in all our short sale listings.

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January 24 2012
Short sales can still represent a very good value in todays market, but the outcome of your attempt to purchase depends on many things, like:
- responsiveness of seller to requests for information from the bankl
- responsiveness of the person managing the short sale process;
- responsiveness of the bank and their negotiator;
- whether the price you've had accepted from the seller is on the realistic side of low or ridiculously low.

If you have the time to pursue one, move forward. I would suggest you write in several drop dead dates where you may pull out if the progress being made isn't to your satisfaction.

Good Luck!
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June 15 2011
Profile picture for the_country_hick
If I did make an offer on a short sale it would be contingent on me receiving a reply from the bank (not owner) and then having the chance to decide if I was still interested if a reply took more than one day. Short sales can take so long that not having this kind of clause is foolish.
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June 15 2011
This depends on how fast you want to move. Investors are great buyers for short sales because they are not in a hurry to relocate. They typically take 120 or more just to get an approval from the bank to accept your offer. Most buyers move on because they want to move sooner. If you have a time frame to meet I suggest shop for Non Short Sales, Bank Owned and Builders Inventory first. If you don't find something you love than wait on the long short sale process!
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June 15 2011
 
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