Ready to purchase a short sale?


	A short sale is when the seller's lender has agreed to collect a reduced payment to release a mortgage.

Purchasing a short sale in Jacksonville, Florida on your own is risky. Contact Personal Service Realty for expert advice.

Are they good deals?

The short answer is "sometimes". Many people hear the words "short sale" and automatically think of a seller that is insolvent and needing to sell their house promptly to prevent further financial problems. This is at times the case and can be an opportunity for a buyer to make the most of another's misfortune. More commonly, a lender may consider a short sale even if the seller is current with their mortgage, but property values have fallen. In these cases the discounted price may in fact be in line with true market values, not below.

Are you ready to buy a short sale property?

Always do your research before making any offers. Using an experienced real estate professional from Personal Service Realty to support your research of a property can help you make knowledgeable decisions. We can help discover to whom the property is titled, the amount owed to the lender, and whether or not a foreclosure notice has been filed. Having this info can help you decide how much to offer.
Get a real estate agent with short sale experience. The real estate agents at Personal Service Realty can assist you in expediting the transaction and make certain you're protected. Don't let inexperience impede the closing process. Let our experience and knowledge work for you.
Even with an experienced real estate agent and under the best circumstances, buying a short sale property will usually take longer than a typical real estate transaction. Be aware that a majority of short sales will not close in less than 30 days. 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 sent to a committee to approve which will add time - sometimes even 2 to 3 months.
Home protection plans, buyer credits and allowances, and closing cost concessions are usually not up for negotiation when working with a short sale. The lender will be selling the property as seen which means the lender will not be paying for repairs. Be sure you reserve the right to have inspections for pests, HVAC, electrical, and other critical areas. At Personal Service Realty, when we write an offer, we will be looking out for your interests first and will always advise you to make your offer contingent upon the outcome of the inspections.

When it is time to buy, whether it's a short sale or a typical home sale, Personal Service Realty is here to help. Use our experience and knowledge of real estate to be certain you're getting a fair deal and will be protected during the entire transaction.