Orlando Real Estate News

How can Orlando Real Estate Short Sales Compete With Foreclosures?

There is a new tactic being used in the housing market and some say the abundance of information for sellers

to abuse the foreclosure system is to blame. Orlando Real Estate short sales are an excellent option for buyers

looking for an excellent deal. It is also a win, win for sellers looking to get out of a mortgage they cannot afford

and still being able to sell their home. Some though, are trying to work the system to be able to stay in their

homes as long as they can for free!

Short sale sellers are using stall tactics like entertaining multiple offers, utilizing foreclosure technicalities, and

costing buyers and agents a lot of time and effort.

The key to working with short sales is to learn to identify stalling tactics. A good Realtor will greatly be able to

help you with this process. Most people don't realize how much information agents have access to. Not only

public information like recent sales, and previous owners, most MLSs provide loan information and more

detailed data for Realtors. Information that simply is NOT available to the public.

Below we have included a few ways to identify stalling tactics and save buyers from wasting their time and energy

on sellers who have no interest in actually selling.

• First find yourself an agent with experience in short sales! Just like when buying a commercial property,

a multifamily property or a residential home, every agent has a corner of the market they specialize in. Find one

that concentrates on short sales, this is very important. Ask them how many short sales they have CLOSED in the

last year, if they say none go to someone else with more experience.

• You might be able to spot potential delay tactics by just talking with the seller. Asking if they have other offers

(an agent is a great tool for this because they can ask the listing agent and gain some valuable information not usually

released to a buyer) and be cautious when working with a seller that doesn't seem to care the amounts of the offers just

that there are many on the table. This might be an indication this seller is trying to stall the foreclosure with delay tactics.

• Have a time and the profit potential in mind BEFORE making the offer.
• Make sure you have deadlines and contingencies in place to maximize you returns and minimize and problems

that might arise. Using a good Realtor will help you to clarify your offer and greatly enhance your chances for success.

• You may be able to offer the seller and maybe the bank a few hundred dollars as reward for a quick closing, or

negotiate other items important to the seller to close on time.

• Keep it simple. Avoid complicating the deal with unnecessary requirements. Fixing the garage door might be important

to you, if you are able to purchase the home $20,000 under market value you can afford to hire someone to fix it after closing.

Learning how to negotiate short sales is a new skill some Realtors have made their specialty. Find a Realtor that has proven their effectiveness in short sales and you will greatly increase your chances of landing an amazing house for an amazing price.

For information on great real estate buys in Orlando and nearby suburbs,
contact the Orlando Property Group, your short sale and luxury home specialists.

Or Search Now for Real Estate & Homes in the Orlando Florida Area

Looking for specific information regarding Orlando Florida real estate prices and communities? Get Your Free Market Snapshot

Read Also: What to Expect With a Foreclosure

Read Also: Federal Foreclosure Relief Plan May Skip Orlando Homeowners

Read Also: Orlando Florida Facts & Resources

Read Also: Orlando Florida City - Everything You Need To Know!

If you are wanting to sell your Seminole County or Orlando area home in the next 6 to12 months, now is the time to begin putting your plan into place while time is still on your side. Please contact us for any real estate assistance you may need.

We're experts at putting people together with homes they love and can afford. Contact us today for information on Orlando and Seminole County real estate, Orlando & Seminole County homes for sale, Orlando & Seminole County relocation information, a free market analysis of your Orlando area or Seminole County home or statistics on homes in Orlando & Seminole County Florida or the surrounding Central Florida area, including Seminole County, Orange County, Lake County and Volusia County. We're always available to answer your questions.