Short sale properties

Asked by Orprep, Simpsonville, SC Thu Mar 20, 2014

I'm interested in a short sale property what is the most important information I need to get and where do I find an experienced short sale realtor.

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Answers

6
Meir Aloni, Agent, Plantation, FL
Thu Mar 20, 2014
Hi Orprep,
I think your goal should be to find and secure for you and for your family the BEST possible property (and that means price/location/coniditon/whatever works for YOU), and that could be a Bank owed property, a Short Sale or a motivated home owner!...All I am saying is do not paint yourself into a corner/do not limit your pool of potential properties...

****Did you like this post? If so, please click Green thumb. Thank you!


With enthusiasm,

Meir Aloni & Team CRS (Certified Residential Specialist)


CDPE (Certified Distressed Property Expert)

RECS (Real Estate Cyberspace Society)

Successfully selling Broward County since 1986!
1 vote
Thumbs up! There are lots of good posts but the "think outside the box" comment was key (and being the first to say it). I see consumers come to me directly often with only one idea in mind until they're view is broadened to other possibilities. If they stick with the original idea, at least they had exposure to the other ideas.
Flag Sat Mar 29, 2014
Scott Godzyk, Agent, Manchester, NH
Fri Mar 21, 2014
I have written countless blogs about short sales. The key is a buyer agent who is well experienced who will help you and when you find a home that it is listed with a listing agent who is well experienced. The seller needs to be approved to even do a short sale, having a pre-approved price is always a plus and although short sales are quicker these days, be prepared to wait.
0 votes
Jason Jobbitt, , Deerfield Beach, FL
Fri Mar 21, 2014
As mentioned by other agents the key is to find out if there is an approval already, how many loans are on the property and if there are any other liens, and if there is outstanding HOA dues that you may be responsible for. The lenders are asking for top value as mentioned, but doesn't mean you are overpaying. We have had year over year increase in prices in Broward County.

As for the experienced short sale realtor, I am the broker of my office and licensed title agent for my title company and we have an in house attorney making it a one stop shop for short sales.

But don't limit yourself to just shortsales as since the banks are pushing for top dollar, then its not a "Steal". We can give you a whole picture of the Coconut Creek and surrounding, I have a short sale listing in Coral Springs and regular sale listing in Margate.

Let me know if I can help.

Sincerely,

Jason Jobbitt
Broker Owner
La Playa Real Estate, LLC
146 North Federal Highway
Deerfield Beach, FL 33441
Ph: 561-283-3892 x 103

Fx: 561-922-3008

jasonjobbitt@laplayarealestate.com

http://www.laplayarealestate.com
0 votes
Gary Hitchco…, Agent, Coral Springs, FL
Thu Mar 20, 2014
The Find an Agent capability on Trulia is very useful, I'd read the recommendation letters and check the rankings. As far as short sales, waste of time in this market, banks want too much money for the homes per the condition.
0 votes
Hilary Lefko…, Agent, Philadelphia, PA
Thu Mar 20, 2014
The most important information you should seek out, as mentioned before, is if the short sale has already been approved and if an appraisal has been completed by the bank. The most important thing to understand, though, is many times you will feel as if you have no control over the short sale process.

As for finding an agent, I would suggest speaking to a brokerage's manager or broker of record and ask them to set you up with an agent who is well-versed in the short sale process.

Best of luck,
Hilary

REALTOR
Investment Specialist
Director's Club

Weichert, Realtors
93 Old York Road, Ste 6
Jenkintown, Pa 19046
215-885-8100 (office)
215-919-7497 (mobile)
215-885-3834 (fax)
hilaryle@gmail.com
RE License: RS318196

Your referral is the best compliment.
0 votes
Alain Picard, Agent, Puyallup, WA
Thu Mar 20, 2014
If you are interested in a short sale property, one of the first things I would ask is if the seller has already gotten approval from their lender and also how many loans are on the property. As far as finding an experienced short sale agent, just find a couple of local agents and ask them if they've done short sales before or not.
0 votes
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