Buying a Short Sale in St Petersburg Florida
When you are thinking about purchasing a Short Sale, you will need a Short Sale Realtor, who is experienced and will be on your side. Short Sale or not, it is always a good idea to have a Short Sale Realtor, who has your interest in mind and who works for you. Perhaps you even made already an offer or two on a Short Sale here in St Petersburg. Have you closed yet? Did your offer get accepted? How was the Agent you were working with? It is important to find somebody, who knows what they are doing as well as is not being to negative about the process. There are Realtors, who are so sick of St Petersburg Short Sales, they won’t even show Short Sales any longer. Not everybody is alike and not every Realtor works the same way.
We, as Short Sale Realtors can only tell you, how we are working, which is objectively. We will tell you ALL the facts and YOU make the decisions, nobody else. Only when you have all the facts, you will be able to make an educated decision. You will know what you get into, if the time frame you are looking to purchase is being met, if it is worth it for you to pursue a St Petersburg Short Sale.
So when you talk to us about St Petersburg Short Sales, we are asking you a few questions. Some of the potentials buyers are feeling uncomfortable answering those questions. But those questions are meant to qualify you, and not because we are nosy.
Here are just two example questions we might ask in order to evaluate your needs and see if a St Petersburg Short Sale is a fit or not.
a) When do you want to move into the home?
b) Are you pre-approved with a Mortgage broker or bank?
c) What kind of loan are you qualified for? VA? FHA? Conventional?
As we said, those questions are necessary for us to know the answers to for the following reasons:
a) If you need/want to be in a home in a certain period of time because your lease is up, you are starting a new job etc. a St Petersburg Short Sale might not be a good fit, since Short Sales may take anywhere from 4 to 8 months in order to get approved by the banks.
b) All St Petersburg Short Sales offers need to be accompanied by a pre-approval letter or proof of funds. The Short Sale banks will not go through the lengthy process of approving the Short Sale and the buyer can’t afford it or is not properly qualified.
Also, once the banks have approved the St Petersburg Short Sale, you are looking at a closing time anywhere from 2 to 6 weeks. If you are just starting the process, you will not be getting the loan by closing time.
c) The type of loan for you are getting is important because in a Short Sale situation, the Seller will to 99% out of all St Petersburg Short Sales will require a “As Is with the right to inspect” contract. With this type of contract, the Seller will not make any necessary repairs. So if you are looking for a FHA or VA loan, these type of loans require certain repairs to be made by the Sellers.
There are so many things to take into consideration when buying or looking into buying a Short Sale. Each and every Short Sale is different. Each and every Short Sale buyer’s needs are different. So call me today and I’ll help you figure out the best approach .
Anne Hensel 727-410-7777