Buying a Home

Top 5 Reasons to Consider a Short Sale

Short Sales aren’t for everyone. They can be frustrating because of the time it takes for bank approval. On the other hand, they may be worth the wait. Since they comprise about 20% of the Tallahassee market, you may be overlooking a great deal on a house that you would happily call home for many years.

dollarsignHere are the top reasons to CONSIDER a short sale in Tallahassee:

  • You don’t have a specific timeframe for moving
  • It’s a great price and meets your primary requirements
  • You’re OK with doing some repairs and decorating to suit your tastes
  • You don’t require seller concessions, such as closing costs
  • You have patience and are willing to wait for what you want

One of our short sale specialists will be glad to give you advice on specific short sale properties and answer any questions you may have.


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Top 5 Reasons to Consider a Short Sale

A Strong Offer Increases Your Chances of Success

A Strong Offer Increases Your Chances for Success

Making a strong offer puts you in a good position to get the house you want with the price or terms that are most favorable to your situation. An offer can be simply divided into price and terms Terms include closing date, condition of the property, asking seller to pay some/all of the buyer closing costs, etc. Pick one or the other to maximize. Trying to make poth price and terms advantageous to yourself will likely offend the seller and make them less likely to negotiate*.

A strong offer has the following characteristics:

  • Shows the buyer is serious about buying the property. The size of the binder deposit is a good indication of seriousness and shows you have some skin in the game. A seller takes a risk when they take their home off the market and a higher binder mitigates that risk.
  • Shows the buyer is capable of buying the property. A pre-approval letter or proof of funds for a cash offer is essential. without it, offers may be rejected outright.
  • Is balanced between asking for and giving concessions . A strong offer may propose a lower purchase price and balance it with concessions on terms such as a quick closing date, e.g. 10 days, and accepting the property “as is” without any warranty or repairs.Conversely, if the buyer needs help with closing costs and wants the property to be in perfect condition when they move in, they can still make a strong offer by giving the seller full asking price with some/all of closing costs added on top – assuming that the house is priced at or below market value.

Common sense and an attitude of compromise should rule the day regardless of whether it’s a buyer’s or seller’s market and ideally, there will be an incentive for both sides in every offer and counter offer.

One of experienced buyer agents will be glad to give you advice on this and any other aspect of the buying process.

* Expert negotiators such as Herb Cohen advise against negotiating for yourself because it’s extremely difficult to remain objective, even if you have excellent negotiating skills and experience.


Articles on Buying

100% Financing Options

Free Buyer Services

Top 5 Reasons to Consider a Short Sale

A Strong Offer Increases Your Chances of Success

Free Buyer Services

Be sure you get the best possible deal by working with a Realtor who is looking out for your interests. Buying a home is a big investment and it’s important to have accurate, timely information to make good buying decisions. Surprisingly, many buyers struggle through the process alone because they don’t know that they can get expert representation from a Realtor at no charge.

Advanced Realty Group has a team of professionals with expertise in many areas to help with special needs. We provide all of our buyer clients with the following services, free of charge:

  • Finding homes that meet specified criteria
  • Setting up automatic notification for listings
  • Coordinating showings, regardless of the listing office/agent, even FSBO’s
  • Providing market analysis for a property to determine fair market value
  • Answering questions about all aspects of the buying process and/or specifics about a property
  • Providing names of reputable resources including lenders, inspectors, repairmen, title companies, etc.
  • Negotiating with the seller to get the best price and terms for the buyer
  • Coordinating necessary inspections
  • Negotiating repairs with the seller on behalf of the buyer
  • Coordinating details with the title company and lender
  • Helping to resolve issues that arise during the course of the transaction

Let us help you make a smart decision and get the best possible deal. Our Realtors work for buyers free of charge; in return, buyers agree to work exclusively with their Realtor of choice.


Articles on Buying

100% Financing Options

Free Buyer Services

Top 5 Reasons to Consider a Short Sale

A Strong Offer Increases Your Chances of Success

Buyers

100% Financing Options for Qualified Buyers 

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USDA Rural Devleopment. United States Dept of Agriculture provides loans to qualified buyers in what they consider to be rural areas. The loans have competitive rates and do NOT require any down payment nor mortgage insurance.

VA loans. The Veterans Administration provides loans to qualified veterans of military
service. These loans have competitive rates and do NOT require a down payment nor mortgage insurance.

Downpayment Assistance. The Tallahassee Lender’s Consortium and Florida Housing provide funds to qualified first-time homebuyers to help with down payment and closing costs. Buyers must take an 8-hour class that
gives useful information on home ownership and the buying process.

Call us for more information on any of these kinds of loans and names of lenders who work with each loan type.
We know lenders who currently have access to USDA funding.

Find out if you qualify …


Complete the Easy Qualifying Form and return it to our office by fax, email, or in person. We’ll give you an answer within 24 hours.

 


 

Articles on Buying

100% Financing Options

Free Buyer Services

Top 5 Reasons to Consider a Short Sale

A Strong Offer Increases Your Chances of Success

 


 

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