Buying a short sale house

Buying a short sale house could end up with the buyer purchasing a fantastic home without having to spend over their budget. Owners having to sell their home with a short sale contingency will often price them to sale, which means at or slightly below market value.

Buying a short sale house


A buyer of a short sale home needs to understand the differences in processing the transaction.

• The time to close could be extremely long.
• The seller may not be able to make repairs to the home.
• The seller may have had power disconnected that would require the buyer to turn on utilities for their inspection.
• The lender may simply choose to ignore the deal completely and foreclose on the home.

With thousands of homes being offered for sale subject to a short sale, a home buyer would not want to ignore the possibilities of purchasing one of these homes. Patience and caution are suggested if you get involved with a short sale transaction. It would also be wise to use the services of a real estate agent qualified to navigate the short sale process successfully.

Related Florida real estate views:

We have made multiple offers on bank owned homes in our area without success.

How does buying a short sale impact a home buyer?

I want to buy a home but don't want to wait that long.