Advise for Orlando Short Sale Buyers

Buyers:

1. First understand that this process may take 90 days after you've submitted your offer. Don't go into a short sale if you have a specific timeframe that you must have the home closed.

2. Understand that there are no guarantees in a Orlando short sale.

3. The lender may require more cash or a higher price up to the actual moment of closing.

4. The lender will most likely not allow the seller to pay any of your closing costs or give allowances for repairs. Typically, all deals are "AS-IS".

5. There is likely no certainty of the final price or closing date until just before closing. When the final word comes down from the lender that they'll accept the offer, typically they'll want to close in a week or less. Have your inspectors and lender ready to move forward.

6. Be sure there's an out for the buyer if the contract is not approved by a certain date. You don't want to be stuck in limbo waiting for the lender. Make it contingent upon some reasonable date.

7. Don't pay for inspections or any other expenses until you know the lender has accepted your offer.

Short Sales could be a great way to purchase property at a discount as long as you have patience.

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Jerry LaRose is an Orlando Area Residential Real Estate Expert, who can assist you with the purchase and/or sale of Real Estate in Orlando, Windermere, Winter Garden Florida or any place in the country. Jerry has created a team of professionals throughout Orlando and the country to ensure that you enjoy a smooth transition to your new area. Please visit www.JerrySellsOrlando.com for your real estate needs. Please give me a call if you have questions about the Orlando and Central Florida real estate market.

P.S. If you are listing your home as a short sale in Orange County Florida and Orlando, Windermere, Winter Garden, or Ocoee Florida make sure you hire an agent who knows how to do short sales and has the experience to get the job done. We are doing successful short sale packages. Call us at 407-580-7011 to find out more about Orange County Short Sales and Orlando Area Short Sales.