Is It Better To Buy A Florida Short Sale Home Or Wait Until After The Bank Has Foreclosed?
Is It Better To Buy A Florida Short Sale Home Or Wait Until After The Bank Has Foreclosed? Some people think they can go around a homeowner during a short sale and buy a home directly from the bank. “The seller has to submit our offer to the bank because the bank owns the house”, they tell us.
They assume that they can sidestep the seller and buy the house directly from the bank. The truth is that until the bank forecloses on the house, the seller owns it and they are in the driver’s seat.
If the seller works with another buyer on a short sale and the bank approves the short sale, then that buyer will get the house. If you really want the house, then it is best to work with the homeowner during a short sale and NO – Is It Better To Buy A Florida Short Sale Home Or Wait Until After The Bank Has Foreclosed?
If you want to try your luck, then you can wait until the foreclosure is completed and buy the house from the bank.
However the bank won’t just sell the house to you. They have a standard way that they sell bank owned properties. They put them on the open market and wait for a good offer.
In most cases, they will not sell the house to you without putting it on the open market. This policy ensures that they don’t sell any homes for less than the fair market value.
Every buyer in the market has a fair shot at the house. Their reasoning is that will get them the best price for the home.
Thinking about buying a distressed home? Let’s talk, I will explain how the process works in detail about buying a short sale or foreclosure and answer any questions you may have. You can call us at 1-800-648-0037 Ext. 1025 or if you don’t want to talk sign in below:
In the meantime view all homes for sale at www.FloridaConnectsInc.com
Annett T. Block specializes in distressed and short sales in Florida. Florida Loan Modification Help, Florida Short Sales. Florida Short Sale Realtor. FL Short Sales. Florida Realtor. Is It Better To Buy A Florida Short Sale Home Or Wait Until After The Bank Has Foreclosed?