Selling Property For Less Than What Is Owed To The Bank
A Short Sale Summary
There are 236 condos in Miami Beach with listing prices of $500,000 or more being offered as short sales as of 12/5/2008.
Lowest Asking Price: $302,000
Highest Asking Price: $4,750,000
Prices may be further reduced, in some cases. |
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Condo Owners:
Are You Eligible to Short Sell Your Condo? |
|
If you owe your lender more than
you believe your condo is worth today, and you are having a
financial hardship, your lender may permit you to sell your condo
for less than what you owe. Contact us to learn more. |
|
zilbert_contact@zilbert.com |
More About Short Sales
 If you are a properly-qualified buyer, you may find this to be a
great
time to buy real estate. You have the potential to buy first-class
properties at prices that are often below market prices.
Lenders who have financed many of these properties are trying to avoid foreclosures. If the
situation is right, they will gladly allow a property to be sold for a
fraction of what the owner owes them. There are many reasons why the lenders
are motivated, and we would be happy to discuss them with you.
Before you get too excited, however, you should know that the number of
great deals, particularly in South Beach, Bal Harbour and other beach cities
may be less than what you imagine. Understand that short sales are quite
rare, even in today's market. Our current list (see below) of short sale
properties for sale in Miami Beach shows only 236
condos for sale (Source: SEF MLS properties listed
at $500,000 or higher). Every now and then we find something amazing,
but it's not an every day occurrence.
There are a few things you need to be aware of as a buyer of a short sale
property:
- You must be an all-cash buyer, AND
- Financing will not be permitted on these sales (cash only), AND
- It normally takes about 3 months to complete a short sale
When you make your offer, you must be able to prove that you have the
funds to make the purchase. A letter from your bank is normally sufficient.
Your offer is always going to be subject to lender approval, and this can
take 30-90 days, sometimes longer. So, you will need to be patient.
Why use Zilbert Realty
Group to Help You Buy A Short Sale Property?
 When you
engage a transaction broker to help you find and purchase a short sale
property, you should understand that the short sale process is very
complicated. Your broker needs to be skilled in the handling of short
sale offers and negotiation with lenders. Often, the seller of the
property that you may wish to pursue has engaged a listing broker who does
not have the skills to negotiate and process a short sale with a lender.
This is where our role as the buyer's transaction broker becomes
especially-important. We sometimes need to guide the listing
agent through the process.
So, as a buyer, seek out the best people to help you find and aquire a
short sale property. The sales associates at Zilbert Realty Group are
paving the way for short sales in Miami Beach. We are happy to assist
you.
| All 236 Short Sale Units For Sale |
Click on any link to get additional information. The properties shown below have a listing price of $500,000 or higher.
Source: Southeast Florida MLS Studio Short Sale Condos | | Condo | Unit | List Price | List $/
s.f. | Bd/Bth | s.f. (m²) | Listing Date | Details | | |
Ron4ey Palace Condominium |
443 |
$385,000 |
$583.33 |
0/1/0 |
660 (61.3) |
11/20/2007 |
MORE |
1 Bedroom Short Sale Condos | | Condo | Unit | List Price | List $/
s.f. | Bd/Bth | s.f. (m²) | Listing Date | Details |  12.3% |
The Collins |
1404 |
$349,000 |
$429.80 |
1/1/1 |
812 (75.4) |
8/25/2008 |
MORE |
| |
Courts Brickell Key |
3107 |
$350,000 |
$398.63 |
1/1/1 |
878 (81.6) |
8/31/2008 |
MORE |
| |
Roney Palace |
318 |
$350,000 |
$416.67 |
1/1/0 |
840 (78.0) |
8/1/2008 |
MORE |
 16.7% |
Decoplague |
1422 |
$350,000 |
$411.76 |
1/1/0 |
850 (79.0) |
4/30/2008 |
MORE |
| 11.8% |
1300 Social Club |
108 |
$352,900 |
- |
1/1/0 |
- |
9/10/2008 |
MORE |
| 33.9% |
Roney Palace |
302 |
$360,000 |
$409.09 |
1/1/0 |
880 (81.8) |
1/22/2007 |
MORE |
| 4.0% |
Roney Palace-direct Ocean |
524 |
$360,000 |
$400.00 |
1/1/0 |
900 (83.6) |
6/12/2007 |
MORE |
| |
Bentley Beach Condo |
916 |
$365,000 |
$510.49 |
1/1/0 |
715 (66.4) |
10/10/2008 |
MORE |
| |
Akoya Condo |
1510 |
$369,000 |
- |
1/1/0 |
- |
9/13/2008 |
MORE |
| |
The Collins |
406 |
$369,900 |
$457.80 |
1/1/0 |
808 (75.1) |
8/22/2008 |
MORE |
| |
Waverly South Beach |
3003 |
$370,000 |
- |
1/1/0 |
- |
9/9/2008 |
MORE |
| |
The Collins Condo |
611 |
$373,000 |
$455.43 |
1/1/1 |
819 (76.1) |
9/13/2008 |
MORE |
| 1.3% |
Belaire On The Ocean |
1506 |
$374,900 |
$465.71 |
1/1/1 |
805 (74.8) |
1/2/2008 |
MORE |
| 6.0% |
Flamingo |
1442S |
$375,900 |
$478.85 |
1/1/0 |
785 (72.9) |
9/23/2008 |
MORE |
| 5.0% |
Belaire Condominium |
1406 |
$379,873 |
$471.89 |
1/1/1 |
805 (74.8) |
5/2/2008 |
MORE |
| 8.8% |
Two Tequesta |
2603 |
$380,000 |
$396.25 |
1/1/1 |
959 (89.1) |
9/24/2008 |
MORE |
 |
Mirador 1000 |
721 |
$380,000 |
$509.38 |
1/1/0 |
746 (69.3) |
11/7/2008 |
MORE |
| |
Akoya |
1511 |
$380,000 |
- |
1/1/0 |
- |
6/5/2008 |
MORE |
| |
One Miami East |
4110 |
$380,000 |
$449.17 |
1/1/0 |
846 (78.6) |
8/14/2008 |
MORE |
| 11.2% |
1300 Social Club |
109 |
$381,900 |
- |
1/1/0 |
- |
9/10/2008 |
MORE |
| 2.8% |
Flamingo South Beach |
640S |
$383,000 |
$372.93 |
1/1/1 |
1027 (95.4) |
2/25/2008 |
MORE |
| |
Cosmopolitan |
2505 |
$399,000 |
$483.05 |
1/1/1 |
826 (76.7) |
1/16/2008 |
MORE |
| 5.0% |
Roney Palace |
503 |
$399,000 |
$415.63 |
1/1/1 |
960 (89.2) |
8/1/2008 |
MORE |
| |
Flamingo South Beach |
1508S |
$400,000 |
$542.74 |
1/1/0 |
737 (68.5) |
9/22/2008 |
MORE |
| 1.2% |
Roney Palace |
1524 |
$405,000 |
$450.00 |
1/1/0 |
900 (83.6) |
9/29/2008 |
MORE |
| |
Mirador |
718 |
$410,000 |
$489.84 |
1/1/0 |
837 (77.8) |
1/8/2007 |
MORE |
| 21.4% |
The Bentley Bay |
1204 |
$425,000 |
- |
1/1/0 |
- |
3/26/2008 |
MORE |
|
Sea Coast |
1610 |
$425,000 |
$456.99 |
1/1/1 |
930 (86.4) |
11/10/2008 |
MORE |
| |
Akoya |
2810 |
$430,000 |
$629.58 |
1/1/0 |
683 (63.5) |
8/25/2008 |
MORE |
| 3.4% |
The Waverly |
3303 |
$430,000 |
$533.50 |
1/1/0 |
806 (74.9) |
3/26/2008 |
MORE |
| |
Ocean View |
306 |
$430,000 |
$430.00 |
1/1/0 |
1000 (92.9) |
2/21/2008 |
MORE |
| |
Akoya |
2006 |
$449,900 |
$556.81 |
1/1/1 |
808 (75.1) |
9/29/2007 |
MORE |
| 9.8% |
Roney Palace Condo |
1515 |
$450,000 |
$511.36 |
1/1/0 |
880 (81.8) |
1/21/2008 |
MORE |
| |
The Collins Condo |
911 |
$450,000 |
$549.45 |
1/1/0 |
819 (76.1) |
10/2/2008 |
MORE |
| 2.1% |
The Carlyle |
3D |
$460,000 |
$641.56 |
1/1/0 |
717 (66.6) |
8/26/2008 |
MORE |
| 41.5% |
Bel-aire |
1401 |
$460,000 |
$561.66 |
1/1/1 |
819 (76.1) |
5/28/2008 |
MORE |
| |
Carbonell Condo |
3602 |
$480,000 |
$446.10 |
1/1/1 |
1076 (100.0) |
9/19/2008 |
MORE |
| 18.4% |
Blue |
PH 2 |
$489,000 |
$333.79 |
1/2/0 |
1465 (136.1) |
10/1/2008 |
MORE |
| |
The Collins Condo |
804 |
$520,000 |
$640.39 |
1/1/0 |
812 (75.4) |
10/20/2008 |
MORE |
| 19.1% |
Akoya |
2706 |
$530,000 |
$655.94 |
1/1/1 |
808 (75.1) |
11/4/2008 |
MORE |
|
Oceanfront Plaza |
1807 |
$600,000 |
- |
1/2/0 |
- |
11/11/2008 |
MORE |
| 13.9% |
Seaside Villas |
15723 |
$819,000 |
$1,222.39 |
1/1/0 |
670 (62.2) |
6/14/2008 |
MORE |
| 17.8% |
Seaside Villas |
15714 |
$819,000 |
$1,153.52 |
1/1/0 |
710 (66.0) |
10/26/2007 |
MORE |
2 Bedroom Short Sale Condos | | Condo | Unit | List Price | List $/
s.f. | Bd/Bth | s.f. (m²) | Listing Date | Details | | 14.9% |
Courvoisier Courts |
2206 |
$302,000 |
$234.47 |
2/2/1 |
1288 (119.7) |
6/19/2008 |
MORE |
| |
One Miami West |
3519 |
$350,000 |
$285.25 |
2/2/0 |
1227 (114.0) |
2/8/2008 |
MORE |
| |
Mirador 1000 |
1002 |
$350,000 |
$294.86 |
2/2/0 |
1187 (110.3) |
2/28/2008 |
MORE |
| |
Blue Condominium |
2009 |
$350,000 |
$302.25 |
2/2/ |
1158 (107.6) |
6/10/2008 |
MORE |
| |
Blue Condominium |
1709 |
$350,000 |
$302.25 |
2/2/0 |
1158 (107.6) |
6/10/2008 |
MORE |
| 12.5% |
Flamingo |
460S |
$350,000 |
$327.72 |
2/2/0 |
1068 (99.2) |
9/17/2008 |
MORE |
| 40.0% |
One Miami East Condo |
3400 |
$350,000 |
- |
2/2/0 |
- |
9/4/2008 |
MORE |
| 10.3% |
Isola Condo |
1902 |
$350,000 |
$328.64 |
2/2/0 |
1065 (98.9) |
8/26/2008 |
MORE |
| |
Mirador 1000 Condo |
BS108 |
$350,000 |
$292.40 |
2/2/0 |
1197 (111.2) |
9/15/2008 |
MORE |
| |
Maison Grande Condo |
730 |
$350,000 |
$271.32 |
2/2/0 |
1290 (119.8) |
10/31/2008 |
MORE |
|
Royal Embassy Condo |
3E |
$359,000 |
$248.96 |
2/2/0 |
1442 (134.0) |
11/6/2008 |
MORE |
| 39.2% |
The Floridian Condo |
2804 |
$359,000 |
$333.02 |
2/2/0 |
1078 (100.1) |
7/3/2008 |
MORE |
| 10.0% |
Flamingo South Beach |
828S |
$359,999 |
$320.28 |
2/2/0 |
1124 (104.4) |
9/3/2008 |
MORE |
| |
One Miami |
2507 |
$360,000 |
$305.60 |
2/2/0 |
1178 (109.4) |
8/31/2007 |
MORE |
| 20.0% |
The Bridgewater Condo |
702 |
$360,000 |
- |
2/2/0 |
- |
9/19/2008 |
MORE |
| |
Kennedy House Condominium |
12K |
$360,000 |
$238.57 |
2/2/0 |
1509 (140.2) |
6/19/2008 |
MORE |
| 7.7% |
Ocean Blue |
403 |
$360,000 |
$281.47 |
2/2/1 |
1279 (118.8) |
9/11/2008 |
MORE |
| 10.0% |
The Dalton Condominium |
202 |
$364,500 |
$351.16 |
2/2/0 |
1038 (96.4) |
8/4/2008 |
MORE |
| 7.5% |
Space 01 |
1404 |
$369,000 |
$199.68 |
2/2/0 |
1848 (171.7) |
9/18/2008 |
MORE |
| 14.0% |
Courvoisier Courts |
2210 |
$369,000 |
$293.56 |
2/2/0 |
1257 (116.8) |
12/7/2007 |
MORE |
| 4.1% |
5600 Condo |
14-Y |
$370,000 |
$310.92 |
2/2/0 |
1190 (110.6) |
9/10/2008 |
MORE |
| 17.8% |
South Beach |
306 |
$370,000 |
$604.58 |
2/1/0 |
612 (56.9) |
11/4/2008 |
MORE |
| 22.1% |
Blue Condos |
1706 |
$374,000 |
- |
2/2/0 |
- |
9/8/2008 |
MORE |
| 6.5% |
Carriage Club North |
1107-B |
$374,000 |
$333.63 |
2/2/0 |
1121 (104.1) |
5/14/2008 |
MORE |
| 3.6% |
Regatta At Indian Creek |
607 |
$375,000 |
$316.99 |
2/2/0 |
1183 (109.9) |
2/4/2008 |
MORE |
| 8.5% |
The Waverly |
1114 |
$375,000 |
$297.15 |
2/2/0 |
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