Selling Property For Less Than What Is Owed To The Bank

If you are a properly-qualified buyer, you may find this to be an incredible time to buy real estate.  You have the potential to buy first-class properties at far-below current market prices.

The lenders are frantically 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.  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:

1. You must be an all-cash buyer.  Financing will not be permitted on these sales.
2. 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.
3. 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 International Realty - Zilbert Realty Group to Help You Buy A Short Sale Property?

Many distressed owners of properties are discovering short sales as a way out of their financial woes.  After all, their lender covers all the costs, and they (the seller) walk away with no further obligations.  However, some sellers are engaging brokers who do not really understand how to represent a short sale.  There is a LOT of work involved. 

When our firm represents a buyer, and our buyer wishes to make an offer, we immediately assess the selling broker's capabilities.  If we determine that the seller's broker is not properly equipped to handle the short sale negotiation with the lender, we will be able to assist them.  If we assist them, we maximize our chances of getting your offer accepted.

So, it makes sense to work with Zilbert International Realty - Zilbert Realty Group, as we will guide you through the process (and make sure that all of the seller's people get things done properly).

How Do I Find Out Which Short Sale Properties Are For Sale?

We will be putting together regular lists of short sales opportunities, and e-mailing them to our customers.  If you contact us using the form below, we will automatically add you to our list.  Of course, if you have questions, just contact us below, and we will respond quickly.

Click here to read about SELLING a short sale property

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By Mark Zilbert. Mark Zilbert recommends that buyers, sellers and renters of real estate consult appropriate professionals for legal and other specialized advice. Information presented on this website is believed to be accurate but is not warranted. Oral representations should not be considered valid. Information presented on this site (and in generated reports) may contain listings from both Zilbert International Realty - Zilbert Realty Group and other brokers who cooperate with Zilbert International Realty - Zilbert Realty Group. The content on this webpage (including drawings, photos, text and other materials) may have been provided by developers, third parties or others, and may have been extracted from a developer's marketing materials. Zilbert International Realty - Zilbert Realty Group does not warrant the accuracy of such information. You should consult your Purchase Agreement, Contract and Condominium Documents for accurate information. Zilbert International Realty - Zilbert Realty Group is an independent broker and has no developer affiliation, unless otherwise noted.  Our trademarks include wording that suggest that the condos and homes represented on this site are "Zilbert" condos and homes.  These statements are not meant to represent or imply that Zilbert International Realty - Zilbert Realty Group has ownership or marketing agreements for any of the condos or homes listed on this website or in other media.  The nomenclature of Your Condo is a Zilbert Condo or Your Home is a Zilbert Home (and any variations of such terms) identifies Zilbert International Realty - Zilbert Realty Group as a skilled and knowledgeable real estate broker that, along with its associates, is in the practice of listing and selling condos and homes in condo buildings and neighborhoods that appear on this website. 

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