Short Sale & Foreclosure List
View Short Sale & Bank Owned/Foreclosures Listed in
Hernando County MLS
Click Here to View Hernando County Short Sale List
Click Here to View Hernando County Bank Owned/Foreclosure List
For an updated list or to set up a specific search just for You, call Preferred Property Associates at 352-797-5544 or email us at info@pparealty.com
What is a SHORT SALE & What should Buyers Know?
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In laymen terms a Short Sale is when a homeowner finds themselves in a situation where they owe more money on their property than the current market value.
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For example, the homeowner may have a mortgage for $250,000 on their property and the current market value average is now only about $200,000; the owner then goes to their lender and requestes that the $50,000 difference be excused.
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Keep in mind that a short sale may be listed for sale with or without the lender's approval.
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The most important thing for a potential short sale Purchaser to remember is that this process may take much longer to close than buying a property that is not in a short sale situation; the process of purchasing a short sale may take anywhere from 30 days up to 120 days or more. And also remember that the current homeowner's lender may not grant the short sale or the property could go into foreclosure before your offer is accepted and/or closes.
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There are many rules and regulations and each bank handles the short sale process differently; for example, most banks will not even consider an offer contingent upon the sale of the purchaser's current property. So before you could put a contract on a short sale property, you would need to close on your current property first and find other living arrangements and then you could put in a contract for a property in a short sale situation.
For Sellers that are in a Short Sale situation there is Free information available from Florida attorneys looking to help at: http://www.floridaprobono.org/
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Or maybe you just need more details, our Professional Experience and Informaiton is what we offer our customers. Our job is to help you achieve your Goal of Homeownership!
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*All information regardless of source, including but not limited to, square footage, sizes, room dimensions, property taxes, and school information deemed reliable, but is not guaranteed and should be verified by personal inspection and/or with a appropriate professional(s).
