I heard that if you plan to make an offer on a short sale, iit is better to work with a realtor that

Asked by Julia, Boca Raton, FL Tue Jul 1, 2008

specializes in short sales. Can anyone recommend a good one in the Boca Raton area?

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Karina Leal, Agent, Delray Beach, FL
Tue Jul 1, 2008
Hi Julia:

Besides working with an experienced realtor it is also a good idea to get educated about it as the short sales can take a long time to close. I found good articles about it at http://homebuying.about.com/od/4closureshortsales/a/shortsal…

In my opinion, you can find better deals avoiding buying short sales and looking for "BANK OWNED" properties that were already foreclosed. Boca Raton is also in the area that I market. Fee free to contact me at 561-350-3503 karina@lealusa.com http://www.karinaleal.com
Web Reference:  http://www.karinaleal.com
1 vote
Cheryl Hale, , Mortgage Broker in Boca Raton
Tue Jul 1, 2008
Yes, it is best to work with an experienced realtor who understands the shortsale process. I work in loss mitigation, and the process goes much more smoothly with a realtor who knows what they are doing. te process can get lengthy and complicated, and it's important to have a pro working for you.
In Boca Raton, I recommend Sagine Morgan. I have known her for several years. She's an experienced full time realtor, and has completed many short sales. You can find more information about her at http://www.saginemorgan.com

You may also want to contact Katerina and Nestor Gasset . They specialize in the short sale market and have completed transactions throughout the state. I highly recommend them as well. http://www.short-sales-florida.com/
1 vote
Stelios Styl…, Agent, Wellington, FL
Tue Jul 8, 2008
If it were as simple as making an offer, then Realtors would not be in business. There is no doubt that one can attempt to negotiate on their own with or without an attorney or agent, but they may quickly realize that not every transaction is the same and short sales require an individual who knows what he/she is doing. The bank is looking after their interest as should the buyer.
Web Reference:  http://www.stelsells.com
0 votes
Daniel, , Baton Rouge, LA
Tue Jul 8, 2008
specializes in short sales??? what there to specialize in on the buying side? Nothing. To "buy" a short sale property, all one needs to do is to make an offer, thats all!

The ability to sell your property short of whats owed is negotiate ONLY between the owner of the property and the bank, The realtor has no role!
0 votes
Stelios Styl…, Agent, Wellington, FL
Tue Jul 8, 2008
Short Sales aren't always an easy process or a short one to say the least. Bank Owned properties may be a better option seeing as the bank already owns the property and isn't really in the business to sell homes. They are definitely in the business to make money, but selling homes is our job. An expert negotiator and transaction knowledge is crucial in ensuring a happier and smooth transaction.
0 votes
Eileen R. Bi…, , Boca Raton, FL
Wed Jul 2, 2008
Hi Julia -
In this current market, those of us who have been around for awhile have quickly become short sale "experts". Since short sales hve become a comon occurence Coldwell Banker has put together an entire package for lisitng short sales as well as special addenda for buying short sales.
I think Roger's response to you was very insightful.
Be aware that every short sale is going to be little different, but they all take a LOT of time to complete.
Thanks and have a great day. Eileen
0 votes
Roger Theria…, Home Owner, Lantana, FL
Tue Jul 1, 2008
Not necessarily... there are "specialists" who are by no means doing things properly or protecting their buyers. And some very smart buyers agents who have never been involved in a short sale situation, but are intelligent enough to get the right answers and guide you.

You might find that an agent who has dealt with numerous transaction issues during their career is going to be better able to understand the problems that might occur, but any agent involved in a short sale should advise a buyer to consult an attorney about the potential issues involved, especially since "short sale addendums" to the purchase and sale contract may not cover every issue or properly protect your buyer from lengthy delays.

And regardless of who you choose, you can't choose the seller, the seller's lender, or the seller's agent... those three factors are more likely to cause issues than anything your agent does, and a smart and experienced buyers agent will be better able to manage anything that happens in a transaction.
0 votes
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