info@tampabayhomes4sale.net
    Office: 727-584-8480 or 813-961-6000

Tampa Bay Homes for Sale

  • SEARCH
  • Areas
    • Hillsborough County
      • Apollo Beach
      • Brandon
      • Carrollwood
      • Citrus Park
      • Lutz
      • Plant City
      • Riverview
      • South Tampa
      • Tampa Bay
      • Valrico
      • Westchase
    • Pasco County
      • Hudson
      • Land O’ Lakes
      • New Port Richey
      • Odessa
      • Trinity
      • Wesley Chapel
    • Pinellas County
      • Belleair
      • Belleair Beach
      • Belleair Shores
      • Clearwater
      • Clearwater Beach
      • Dunedin
      • Indian Rocks Beach
      • Largo
      • Madeira Beach
      • New Tampa
      • Oldsmar
      • Palm Harbor
      • Seminole
      • St. Petersburg
      • Tampa Bay
  • Buy
    • Buy
    • VIP Buyer Hotsheet
    • Schools
  • Sell
    • Local Market Reports
    • What’s Your Home Worth?
    • List your Home with Us
  • Rent
  • About
    • Blog
    • About Us
    • Our Agents
    • Testimonials
    • Contact Us

Short Sale Buyer

Buying a short sale in Hillsborough, Pinellas & Pasco Counties

The main benefit of purchasing a short sale is that you get the property for a substantial discount and the lender may offer favorable financing terms.

The following steps should be taken when buying a short sale:

  1. Identify a short sale: When identifying a property, give preference to one for which the amount owed is much higher than its approximate value.
  2. Examine the property: Consider how much you would spend on renovation.
  3. Find out its value: This should also give you a good idea about the profit potential of the property.
  4.  Ask about liens: The seller or agent should be able to provide information concerning any liens on the property and who holds them.
  5.  Plan for financing: Since it is a short sale, you should be able to move quickly, so figure out your financing beforehand.
  6.  Contact the lender: Ensure that the homeowner has completed and signed an authorization letter allowing the lender to discuss the mortgage with you.
  7.  Apply: Many lenders require buyers to make an application for the short sale.
  8.  Assemble your proposal: The documents required for the short sale include:
    1.  The purchase and sale contract
    2. The hardship letter from the homeowner
    3.  A statement of the property’s value
    4.  The settlement statement
  9. Negotiation: The lender may reject your offer or make a counteroffer. You must determine what your absolute highest limit would be in order to negotiate appropriately.
  10. Close the deal: Once you, the seller and lender have come to an agreement, the closing follows, indicating that the property is yours.

Local Tampa Weather

TAMPA WEATHER

RE/MAX ACR ELITE GROUP, INC. Hillsborough

13907 N. Dale Mabry Hwy., Ste. 101
Tampa, FL 33618
Office (813) 961-6000
Fax (813) 961-6016

RE/MAX ACR ELITE GROUP, INC. Pinellas

1465 S. Ft. Harrison Ave, Ste. 100
Clearwater, FL 33756
Office (727) 584-8480
Fax (727) 586-6789

View RE/MAX ACR Elite Group, Inc. Clearwater on Google

© 2023 · RE/MAX ACR Elite Group,Inc. · Contact Us · IDX Sitemap · Sitemap · VIP Realtor Center
Log in · Agent IDX Login · Real Estate Websites by Real Estate Websites by YourSiteNeedsMe.com