According to recent reports over 31% of homes that have received a contract in Seminole, Orange, Osceola, Lake and portions of Volusia county are contingent upon 3rd party approval. Failure to obtain the lender's approval and not being able to close the transaction will weaken an already weak real estate market.
Subject to 3rd party approval most often indicates a short sale situation. With 1437 of the 4583 reported pended business in the MLS subject to 3rd party, Realtors, sellers and buyers continue to have good reason to be nervous.
Related Florida real estate views:
Lower your home price and it will sell faster
President Bush comments on the housing market
University of Florida reports housing prices hit bottom in July
- Greg Staker - 407-304-0255
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