Buying an Orlando short sale? Don’t do it alone
Whenever you’re considering the purchase of Orlando real estate, you should always consult with an experienced and licensed real estate professional. This is especially true when you’re talking about buying an Orlando short sale because there are soo many things that can go wrong. It’s true that you can get a great deal on an Orlando property by purchasing a short sale but you need to be aware of what you’re getting into before committing to anything.
By consulting with an experienced short sale realtor, you will be able to eliminate all the guess work and be confident in your decision making.
Here are some informational tips that you may find helpful when purchasing a short sale
1- You have to be patient- If you need to get into a house quick, an Orlando short sale is probably not a good option for you. Short sales can sometimes take several months to complete. New guidelines that have been put in place by the U.S. Treasury Dept, now force lenders to respond much faster to short sale offers. However, it still takes much longer than a traditional sale.
2-Don’t put all your eggs into one basket– Just because you have an offer on a short sale, it doesn’t mean that you should stop looking at other houses. It’s not against the law to have offers on more than one property as long as you inform the other parties when one of your offers gets accepted.
3-Get the house inspected– Most Orlando short sale properties are sold as-is. For this reason it’s important to get a home inspection done by a professional home inspector especially when it’s an older home. If issues come up in the inspection you may be able to negotiate the price down even further.
4-Make sure your financing is ready– As an Orlando short sale realtor, I will not submit an offer to a lender unless the buyer shows me either proof of funds or a pre-approval letter that can be verified. Be sure that you have your financing in order even before you go house shopping. This way you know what price range you can afford and you will avoid any surprises.
If you still have questions about buying an Orlando short sale feel free to contact us for a free consultation. We are Orlando short sale specialists and have been helping people buy and sell Orlando real estate since 2005.
