Angie Romero

I also agree with the previous answers.

Now, as the first comment responded, if it is your current house, you cannot buy that as a short sale. What you would have to do is speak to your lender and make arrangements. Depending on the bank, they might be able to work out something convenient to both parties, and if not at least it was worth a try.

If you are looking into buying a short sale property, maybe one seen on a listing on the MLS consider that it doesn't necessarily mean that it has been negotiated. Some banks don’t negotiate short sales until the Seller is couple of payments late, however there are some distressed sellers that ask their realtors to list it as short sale in order to get views. The process is long and by no means short. As said before, as a Buyer, you don't lose anything in talking to a Realtor that is experienced with this process, and see what options there are with this one or other properties.

Good Luck. - Tue Feb 5 2008, 11:27

I agree with Pam. The listings that are on craigslist could be a good choice for you. However, also consider that a South Florida realtor that knows the area could help you in determining which properties will be allowed for the amount of people. Also tell the realtor or landlord how long the term might be. The most important factor that will be considered with such as a case would be the wear and tear of the property. Hope this information helps. - Thu Jan 24 2008, 07:49

David, Hi.

I just saw this post and wanted to see if you were able to move on from the property yet?

The recommendation to list it yourself in craigslist and backpage is excellent, however, if you did do that back then, remember that the free posts expire 45 days after publishing. Check out your post and if it is time to renew. You might have better luck this time.

Also, contact another realtor and tell them that all you need is to find out ballpark figures of both the rental price and selling prices for where your condo is. This way, you double check that the price you have it listed isn’t too high causing you to be held up with your vacant apartment. If you don’t feel comfortable with a realtor for fear that they might ask you for your listing, you can post me basics here of your apartment and I’ll do the numbers for you. The main reason of these forums is to help out, and I’ll be happy to get you those numbers.

Now, if you still have the apartment with no movement, you might want to try alternative methods. If for example your apartment in Sunrise near the Nova University, you can try to post flyers near campus activities, or find out with the university newspaper if you can run a small ad under classifieds. Students might be looking into new housing and it could work out for you as well.

Good Luck! - Sun Nov 18 2007, 21:07

Anders, Hi.

I am in South Florida and I just did a quick search on the MLS for you to consider. Looking only at 3 bedrooms, condos and townhouses, and with a list price under $500K there are 578 listings. It is needless to say that also with the amount of Foreclosures occurring, there is a definite possibility that you could find a nice home in our South Florida state.

As for being Foreign Nationals, it shouldn’t be a problem here. When it comes to financing, if any, you will have to talk to a good Mortgage Broker or a Bank/Lender to see which options and rates are best for you.
As for renting the property out you will have to ask the Association if they have bylaws that might prevent this from happening. Some Associations are ok with month-to-month rentals, while others require a full year lease agreement. That is something to consider when you are looking for property.

Ft. Lauderdale, along with South Florida in general, is a beautiful place for you to consider.

I hope this helps a little better than what you had received earlier. Feel free to contact me if you have questions, no obligation.

Good Luck! - Sun Nov 18 2007, 20:33

Stephan,

When a property is listed by a Real Estate Agent they are professionals and by law they should be complying with your state and local laws and procedures. Part of the process to get to final contract is that the house needs not only to be checked through and have clear title, but it is also wise to have property inspections, an appraisal and other items that may come up. As an Agent, it is their “importance” that everything will run smoothly for all involved. This could eliminate much of the things that you would have to accomplish on your own if you are purchasing a FSBO.

Also, an Agent also helps when negotiating is involved. They can take your offer back and forth with the Seller and try to reason a good price for all. Now do note, that when you are buying, you can hire a Buyers Agent to assist you and negotiate for you.

Now, purchasing through a FSBO directly, just make sure that when you have found the home that you are interested in and have come to an arrangement with a purchase price, hire a good Real Estate Attorney to guide you and make sure that everything is as it should.

Foreclosures are a little different. Depending on the progress of the Foreclosure (if they are in pre-foreclosure or already bank owned) the steps are a little different that in the other cases. Plus each bank or lender has their own process that they require to be followed. At this moment, you can find very nice properties and investments. However, I recommend that first you find an Agent in your area that is specialized in Foreclosures and Short Sales and have them walk you through a “foreclosure process” in your state so that you may see the difference.

Good luck! - Sun Nov 18 2007, 20:08