Tuesday, January 25, 2011

It’s a Short Sale–The Bank Will Take Any Offer!

Very often folks get short sales and foreclosure sales confused.  The difference is really quite simple.

A foreclosed property has already gone through the judicial process and  is already owned by the lender.  The selling process is not much different than a regular sale although the acceptance or rejection time may be somewhat longer.

A short sale is a situation where the home owner is trying to sell due to a hardship  for less than the mortgage monies owed.   In the case of a short sale, any offer accepted by the home owner must be approved by the lender and the process can be rather lengthy.

If you are considering a short sale purchase in Brevard County, Florida,  keep in mind...

Short sale does not mean fire sale or any sale...Buyers must be realistic because there is no requirement for a lender to accept any offer!

If you are considering selling your Viera or Rockledge house as a short sale, call me at 321-693-3850 or email me