The 3 Most Important Things To Know About Short Sales And Pre-Foreclosures
December 19th, 2007 categories: Short Sales Tampa, Tampa Condos, Tampa Real Estate
1. There are predators out there and they know how to find distress sales, short sales and pre-foreclosures.
- Not everyone who wants to buy your home or property is a predator.
However they’re out there. So, just be aware to read carefully and remember DON’T PAY TO ANYONE TO DO A SHORT SALE FOR YOU!
2. How do I protect myself from those, not looking out for my best interest?
- If your selling a property yourself, have an attorney look over any contract BEFORE YOU SIGN IT.
- Hire a Realtor to market your home or property. Be sure to interview as many as you need to find one you are comfortable with to:
- Trust to act in your best interest, review and explain details of any offer
- Have the experience to get you sale done. An inexperienced Agent can cost you a deal or worse… your home.
- All offers should provide that the contract is for a short sale and subject to 3rd party approval.
3. Time is limited when the foreclosure process starts. After Three missed payments a lender can file a Lis Pendens or lawsuit and begin foreclosure.
- Some investors will tie your property up with a purchase agreement or option to purchase and never get a deal done. That can leave you holding the bag with little no time before a foreclosure sale.
- A properly written offer will allow you to accept multiple offers to be presented to your lender and a greater chance of getting your home sold. Remember a short sale is not automatic. You have to qualify and you offer has to be accepted.
- An inexperienced Agent can cost you valuable time a sale and even your property. Hire an experienced Realtor.
If you have questions regarding Short Sales or Pre-foreclosure please call me, John Montesano. I’m always available to help whether you list your property with me or not.
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