Orlando Real Estate News

You have heard the term Short Sale, but do you really know what it means?

In today's Real Estate market you often hear the term "Short Sale" and you surmise it isn't something good, but wonder "What is a Short Sale?".

The end result of a Short Sale in Real Estate is that the mortgage lender agrees to accept an offer from a buyer that is less than the remaining amount that the seller owes on the mortgage.  In essence the mortgage lender is forgiving the difference between what is owed and what the house sells for.  In today's market the owner often owes more than the house is worth, which complicates the process even more.   Even if this is the case,  price might end up being more in line with the market value and not below it, because the lender is looking to keep the loss on the property to a minimum

For the mortgage holder who is in financial difficulty a short sale can be a process that will help them sell their home more quickly in today's Real Estate market.  But, before a short sale can be considered the mortgage has to be in default, with the owner no longer making mortgage payments.  In addition, a letter of hardship must be presented to the lender before this process can be started. 

For the prospective buyer it may be an opportunity to purchase a home at a discounted price.  On the other hand it is a more involved process, in that you are dealing with the mortgage lender who has the final say in the deal.  Typically short sales take longer to negotiate and you have no guarantee that your offer will be accepted.  Be prepared to be patient.

Orlando Area Short Sales

• 1304 Oxalis Avenue Orlando FL32807
• 1446 Cricket Ct #2B Longwood FL 32750
• 2426 Willow Ave Sanford FL 32771
• Old Berkley Rd Auburndale FL 33823
• 13132 Lexington Summit St #0 Orlando FL 32828
• 4900 Southfork Ranch Drive Orlando FL 32812 
• 329 Lusitano Way Sanford FL 32773

If you are wanting to sell your 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.

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