Want to buy a short sale?


	When a lender and a seller agree to release a mortgage for an amount less than what's owed on the property, it's called a short sale.

Purchasing a short sale in Jacksonville, Florida on your own is risky. Contact Watson Referral Realty, Inc. for expert advice.

Can I get a bargain on a short sale?

Sometimes. Most people hear the phrase "short sale" and routinely think of a seller that is insolvent and needing to sell their house promptly to avert further financial problems. This is sometimes the case and can be an opportunity for a buyer to do well from another's misfortune. On the other hand, a lender may consider a short sale even if the seller isn't delinquent with their payments, but property values have declined. In these cases the discounted price may in fact be consistent with current market values, not below.

Are you ready to buy a short sale property?

Before making any purchase offers, do your homework. Using a knowledgeable real estate agent from Watson Referral Realty, Inc. to assist you with researching a property can help you make knowledgeable decisions. We can help learn to whom the property is titled, how much is owed to the lender, and whether or not a foreclosure notice has been filed. Obtaining this information can help you decide how much to offer.
Use a REALTOR^® with short sale knowledge. The real estate agents at Watson Referral Realty, Inc. can assist you in expediting the transaction and make sure you're protected. Don't permit inexperience to hinder the closing process. Let our experience and knowledge work in your favor.
Even with an experienced real estate agent and under the best circumstances, buying a short sale property will generally take longer than a typical real estate transaction. Know that many short sales will not close in 30 days or less. Remember that you're not only having to get approval from the seller, but the lender must also agree to the discounted price. Commonly, your offer will be presented to a committee to approve or disapprove which will add time - sometimes even 2 to 3 months.
Home protection warranties, buyer credits and allowances, and closing cost concessions are generally non-negotiable when dealing with a short sale. The lender will sell the property as seen which means the lender won't be paying for repairs. Be sure to reserve the right to have the property inspected for pests, HVAC, electrical, and other critical areas. At Watson Referral Realty, Inc., when we write an offer, we will be looking out for your interests above all else and will always advise you to make your offer contingent upon the outcome of the inspections.

If you are ready to buy, whether it be a short sale or a typical home sale, Watson Referral Realty, Inc. is available for you. Use our experience and knowledge of real estate to feel confident you are getting a fair deal and remain protected during the full purchase transaction.