Short Sales

Did you know that Palm Beach County, Florida is a fantastic area to purchase many different types of real estate properties? That's right, with a booming tourist season that lasts from September through May and beautiful weather all year round, Palm Beach County is home to prime real estate options.

Often times we have buyers and sellers who approach us about buying a short sale property or short selling their property. Short sales in the Palm Beach County area have several benefits for both the buyer and the seller.

In order to help you decide if a short sale is the right choice for you, we have dedicated this page to providing you, our valued customer, with information that is easy to understand about short sales.

Let's Start with a Short Sales Definition

A short sale is a real estate transaction that happens when a lender accepts a mortgage payoff, which is typically less than the amount that is currently owed on the property. Often times the lender agrees to these terms so that he can aid the sale of a property by a financially distressed owner. Essentially, the lender forgives the remaining balance of the loan. To be sure that you understand the most minute details, we invite you to Contact Us today with any questions!

Seller's Guide to Palm Beach County, Florida Short Sales

If you are in a financial bind and looking to efficiently sell your Palm Beach County home, then a short sale could be just the right real estate move for you!

In order to determine if a short sale is right for you, please feel free to give The Veno Team a call at 561-748-8366 or Contact Us today.  We can help walk you through the process and get you out of your home you may no longer be able to afford.  Maybe a job loss, divorce, loss of a loved one or a market fluctuation put you in this position.  We can help get you out!  Whether you need to sell your Jupiter short sale, Palm Beach Gardens short sale, Wellington short sale, Royal Palm Beach short sale, Boca Raton short sale or anywhere in between, we can help you!

Did you know that last year we had a 95% successful Palm Beach County short sale closing rate? One of our Palm Beach County, Florida real estate specialties is helping distressed owners avoid foreclosures by selling their homes through a short sale.

Home owners who are interested in selling their home through a short sale can expect to see a few potential benefits.

• Palm Beach County, Florida short sales are now often receiving close to market values. While this means you may still have paid much more for your property, it helps reduce the deficiency balance.

• Selling your home through a short sale has a smaller impact on your credit score.

• During the short sale process you will still be able to reside in your Florida home. The short sale lender actually wants you to stay. 

• You should be able to buy a new home sooner than if you let the home go into foreclosure. 

To learn more about the benefits of a short sale vs. foreclosure, please call us 561-644-5073 or Contact Us today! We are happy to answer any and all of your questions.

Palm Beach County Short Sale Information for Buyers

Short sales can be beneficial to buyers who are not in a hurry to close on their new property. While there still are deals to be had with short sales, patience is the key!  There are typically 7 steps on the buy side of a short sale.

1. There are a number of factors that you will want to consider when it comes to picking out short sale properties. Location, price, neighborhood, sale or home values of the surrounding homes, and school rankings are just a few of the factors that will determine the value of the home.

2. Once you have identified a possible short sale home, be sure to visit the property. It is not recommended to buy the property sight unseen. If possible, you and your Realtor should thoroughly examine the condition of the home. Many times short sale properties remain in good condition.

3. When conducting research on a Palm Beach County short sale property be sure to ask yourself the following types of questions. What condition is the home in?  Does the neighborhood seem nice? Do the surrounding Florida homes have good curb appeal? Answering these types of questions with a member of The Veno Team will help you to choose a Palm Beach County short sale based off of concrete, analytical, and statistical data.

4. When determining financing options, it is important that you know exactly how you are paying prior to agreeing to any terms or conditions.  You have to consider the condition of the home to see if it will qualify for the type of financing you are approved for.

5. Assembling the proposal can be a lengthy task that is best left to a real estate professional. The short sale proposal includes: the purchase and sale contract and proof of funds or pre-approval letter.  It is also a good idea to consult with the sellers agent that all of the sellers short sale paperwork is turned in to reduce the time it will take for an acceptance.

6. When it comes to negotiation, The Veno Team will keep your best interests at heart.  With this knowledge in mind, we will try to get you the best possible deal, while still being aware of the fact that your offer can be rejected if it is too low.

7. After successfully completing the above steps you will need to get everything in writing, signed by the short sale seller and delivered to the short sale lender. Once everything is accepted and approved by the short sale lender, the next step is the closing, and finally the new short sale property is yours.

Additional Benefits of Buying a Short Sale Property

While purchasing a short sale home in Palm Beach County can sometimes be a lengthy process, it does come with a few of its own buyer benefits.

• Own a home that you might not otherwise have been able to afford.

• Live in prime real estate communities.

• Purchase a property that can be enhanced to your exact specifications. Sometimes a Palm Beach County short sale property will need a little bit of work; in these instances the buyer is at a unique advantage to fix the home into their dream home.

Final Thoughts on Short Sales

Palm Beach County short sales represent a growing market, which can be seen on a daily basis. This type of property sale has the opportunity to be a great purchase for buyers interested in the Palm Beach County homes. Through a little bit of patience and a short sale opportunity, buyers can find themselves living in their next dream home! With The Veno Team by their side, short sales provide the opportunity to help a seller out of a financial bind.

To determine if a short sale is right for you, please call us at 561-748-8366 or Contact Us today. The entire team at the Veno Group Realty can answer any and all of your questions regarding Palm Beach County short sales.