1) How sharp a bargain are you looking to make? Are you looking for a home XX% below market?
2) If the property needs repairs, is that money coming out of your $170K?
2) Is this an investment or your personal residence?
3) When you say "foreclosure" do you mean "REO" or you want to buy on the court house steps or you want to purchase from a distressed seller pre-foreclosure?
I have an associate I can refer you to in Sarasota Florida. Just let me know. They are well versed in short sales and will really take care of your needs.
The Carrabba Group
Keller Williams Holllywood Hills
We are located in the Sarasota area and have several excellent resources for "short sale" advocates. There are deals available but it's a matter of being ready and willing to move on them quickly.
It is essential to have a letter for proof of funds and a deposit ready for the perfect property. There are ways of checking on the credibility of a short sale. The following infomation is vital to identifying a high percentage opportunity.
Has the necessary paperwork been filed with the lender?
Has a letter of hardship been presented?
Are there multiple loans or liens on the property?
Has a loss mitigator been appointed to the case?
Has the bank ordered an appraisal of the property?
Does the bank appear willing to work with the owner?
Is the property in foreclosure?
Sarasota attorney, Anne Weintraub of SMRL is an excellent resource (one of the best in the area) and is highly recommended. She participates on regular television segments on the topic of short sales and foreclosures and is recognized as an expert. Anne can be contacted by telephone:800-969-5000.
Feel fee to contact us for more specific property information.
The Eckler Team
Michael Saunders & Company