Purchasing a short sale

(January 11, 2012) Purchasing a short sale in the Orlando or Kissimmee area should be a solid investment for buyers during 2012. However purchasing a short sale is not always as easy as purchasing an REO or traditional home for sale.

While we expect the process to continue to improve, the short sale process is often filled with delays and uncertainty. Home buyers will want to make sure they fully understand the process and time involved before submitting an offer on a home being sold with this contingency.

There are short sale addenda that need to be completed that address the time allowed for the seller to receive approval, buyers recourse should approval not be received and how the short sale impacts time frames on the purchase contract.

There are continuous updates to the process and buyers should be encouraged to speak with an attorney and/or a real estate professional before moving forward.

Call me at 407-304-0255 for more information.