Moving in Pinellas County>Question Details

Desireevaler…, Renter in Pinellas County, FL

i am looking into property in pinellas county Florida and would like to know which is best: a foreclosure, a short sale, or a rent to own

Asked by Desireevalerie, Pinellas County, FL Sun Jul 22, 2012

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7
Desiree,

You are probably getting the idea by now they all have possibilities. Perhaps the best way to look at it is, what are the essentials you want in a house. Break down your must have and your wish list. Then look for that house. If you focus on one type of sale you might miss the right house. Short Sales are anything but short and have no guarantee of closing. If you must be in a home by a certain deadline don't do a short sale. Bank owned properties can be a deal, but budget for repairs. Most banks will not do repairs. Rent to own, or lease to own or lease options have a hefty price on the front end to pay for the option. If you do not buy, you have paid a lot more than a regular rent would have been.

Interview some full time professional real estate agents to help you with your search and through the process. This way you will have someone looking out for you and keeping you abreast of all your options.

I feel an informed client makes the best decisions regarding their real estate needs. Let me know if I can be of assistance.

Sincerely,

Pam Cohn
Broker Associate, GRI, SFR, NHS
Real Estate Consulting, Marketing & Sales
Prudential Tropical Realty
2539 Countryside Blvd #3 Clearwater, FL 33761
pcohn@prutropical.com
727-204-7155
http://www.FromCavesToCastles.com
VIEW PROPERTIES ON YOUR SMART PHONE
TEXT "PAMELA" TO 727-213-5142
0 votes Thank Flag Link Sun Jul 22, 2012
You should look for a property that you like vs a particular type of deal. You are going to live there, so first and foremost should be how happy you will be living in the property. The type of deal is secondary.
0 votes Thank Flag Link Sun Jul 22, 2012
Ditto what the other agents said. Your long term goals and objectives are very important. Primary vs second/rental property makes a difference.
0 votes Thank Flag Link Sun Jul 22, 2012
Hi ! -
Answer is ____________. ? It all depends. Short sales are iffy - take longer and don't know if they will close -but sometimes owners are still in them - so they are not in as bad shape except for when the owners leave - Foreclosures- have probably been vacant for a long time- but easier to close - so usually some things are missing - appliances - lighting (a/c units - as they may be stolen)
RENT to own- why? LEASE TO OWN?
I think the best property to get is the one you want at the best price.

Call me- or email me
Brigitte Lukas-Szabady
Broker-Associate
Realty Executives-Suncoast
727-409-7327
0 votes Thank Flag Link Sun Jul 22, 2012
Each have pros and cons, depending on your specific situation and needs. Any parcel of real property may be a short sale, foreclosure, or rent to own. If you have time, a short sale may be your best option, poor credit - rent to own. Looking for a 'deal', but with the opportunity for some fix up costs, a foreclosure......better to identify your needs/wants, geographic area, then look for properties which fit the bill.
0 votes Thank Flag Link Sun Jul 22, 2012
Hi Desireevaler,

Although there are some owner financing properties out there, the buyer usually isn't getting a good deal. As far as a short sale or foreclosure it depends on a number of things. If you need to move real soon a short sale is likely not a good option. Also, many foreclosures may need some repairs. I would suggest that you find an agent who understands what you are looking for and who can help by representing you in a transaction. Good luck on your search. Feel free to contact me if I can help.

Jeffery Lonas
Real Estate Consultant
Keller Williams Gulfside Realty
727-831-6089
Join me on Facebook
0 votes Thank Flag Link Sun Jul 22, 2012
Each type of sale has pros and cons, the worst may be a short sale as they ar enot guaranteed to be accepted, they can last a long time and can waste your time and money. Foreclosures are priced to sell, available for quick close in many cases and are good deals. Rent to own is another type of option but you often pay a higher price for the priveldge to lease purchase. A good buyer broker can assist you with getting pre approved and finding the right type of sale.
0 votes Thank Flag Link Sun Jul 22, 2012
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