How To Buy A Short Sale Without All The Frustration
I am noticing a growing trend of frustration among people who want to buy a short sale.
Nothing has really changed in how the banks are handling the processing of short sales, so I'm thinking that today's buyers are less informed about the commitment required to buy a short sale.
Since we do not always get to communicate directly with buyers working with other real estate companies, we have decided to develop an additional disclosure that buyers will have to sign if they choose to buy a short sale listed with our company.
Nearly 20 Percent Will Buy A Short Sale In 2012
First of all, we need to address the issues that people will face when they buy a short sale. Nearly 20% of all homebuyers in 2012 bought a short sale, and the number is growing.
When we show this real estate graph next year, the number will likely be higher. Why? Because distressed sales are nearing 40% and growing right now, and banks still favor the short sale as a solution to non-performing loans. Just take a look at the list of distressed homes for sale in Tallahassee today and you'll see why we expect high closings in the near future.
New Disclosure When You Buy A Short Sale
Most of the frustration that I have seen from people who chose to buy a short sale was over situations and delays that they should have been warned to expect.
In order to provide better service and better prepare all buyers who buy a short sale from Joe Manausa Real Estate, we are preparing a short sale disclosure that might contain the following warnings:
So, did I leave anything out? If you think of something that belongs in the new disclosure, please comment below.
The goal is to warn buyers so that they do not put themselves in a position of high stress.
There is an indefinite waiting period that must be tolerated in order to take advantage of the financial benefits when you buy a short sale.
There is also the potential for additional costs for repairs or improvements that might not be visible on a cursory tour of the house. Trust me, the seller is not going to pay for problems that you find when you buy a short sale. Either you will pay for the repairs, or you will need to walk away and start the process all over again at another home.
Most people who chose to buy a short sale from Joe Manausa Real Estate were very happy as they knew what to expect. They got great deals and now have wonderful homes that they enjoy.
If you want to buy a short sale, just drop me a note and I can set you up with a buyer specialist who will walk you through the entire process, from start to finish.
*Joe Manausa Real Estate is a brokerage company headquartered in Tallahassee, Florida. Its unique business model provides specialists to both home sellers and home buyers, and the results speak for themselves. JMRE has significantly more 5-star reviews on google than any other local competitor. Joe Manausa Real Estate is a leader in internet marketing and utilizes search engine optimization, email marketing, social media and data analytics to get their clients’ home sold faster and for more money than any other Tallahassee brokerage firm. For more information, visit www.manausa.com or call us at (850) 366-8917.