Looking to purchase a short sale?


When a lender and a homeowner agree to release a mortgage for an amount less than what's owed, it's called a Short Sale.  There are a large number of Short Sale properties available in St. Petersburg, Clearwater, Seminole, Gulfport, Dunedin, Clearwater Beach, New Port Richey and practically any other city in Pinellas, Pasco or Hillsborough County.

You may be interested in specific neighborhoods in Saint Petersburg such as Woodlawn, Allendale, Old Northeast, Snell Isle, Venetian Isles, Pasadena Yacht &  Country Club, Yacht Club Estates, Lakewood Estates, Pinellas Point, Isla Del Sol, Tierra Verde, Kenwood, Crescent Lake, Jungle Prada or one of the numerous others.

There are also several sought-after smaller and beautiful communities surrounding St Petersburg that are either in close proximity to our extraordinary beaches like South Pasadena, one of the several charming beach communities such as Redington Beach, Indian Rocks Beach and Madeira Beach, or the highly desired beach communities of Treasure Island and St Pete Beach, each with its own unique neighborhoods.

In Clearwater Beach, perhaps you may want to consider one of the highly-desirable neighborhoods like Ybor City, Davis Islands, Hyde Park or Palm Ceia.

Currently, home sales prices are still lower than in many years but are increasing at a fairly steady pace.  However, I always suggest to stay within your budget while still realizing that you may be able to afford a wonderful property in a traditionally expensive neighborhood due to the volume of Short Sale real estate inventory.

  Contact me today to help you
find your dream
home!




Purchasing a short sale in Clearwater Beach, Florida on your own is risky. Contact Remax Action First for expert advice.

Can I get a bargain on a short sale?

Occasionally. Most people hear the words "short sale" and automatically think of a seller that is in trouble and must sell their home promptly to avert further financial problems. This is sometimes the case and can be an opportunity for a buyer to make the most of another's misfortune. Alternatively, a lender may consider a short sale even if the seller is current, but property values have depreciated. In cases such as these the reduced price may in fact be consistent with actual market values instead of below.

What's involved in buying a short sale?
  • Always a great deal of research should be done before making any offers, using information provided by County Property Appraiser sites which give property values, current taxes and usually past home sales information.  In addition, I can help find out to whom the property is titled, the balance still owed to the lender, and whether or not a foreclosure notice has been filed. Finding this information can help determine how much to offer.
  • First and foremost, since this process can take a long time from submitting an offer to actually closing on a property, I will communicate regularly with the selling agent as well as possibly the owner and the lender.  My goal is to make certain you're protected, keeping you informed on the status on a regularly basis regarding closing the deal.

  • Home warranties, buyer credits and allowances, and closing cost concessions are typically not up for negotiation when buying a short sale. The lender is selling the property just the way it is which means the lender will not be paying for repairs. Always reserve the right to have the property inspected for pests, HVAC, electrical, and other critical areas.

  • When an offer is made, I will always advise you to make your offer contingent upon the results of the inspections.

  • Even with an experienced short sale real estate agent and under the best circumstances, buying a short sale home will usually take longer than a typical real estate transaction. Know that many short sales will not close in 30 days or less. Remember that you're not only having to get approval from the seller, but the lender must also agree to the sale terms. In most cases your offer will go before a committee to approve or disapprove which will add time - sometimes it can take three or more months.

  In many Florida real estate markets, including the majority of neighborhoods in the Tampa Bay area, property values have been steadily showing increases which usually translates into higher sales prices.

Begin your search right here on my site via the buttons on the left side of the page!  You can check my own personal listings, my broker's office listings and search for homes throughout
the Tampa Bay area.

Let's get started to find you the right property for your needs!



Linda Faucett

727-385-8063 voice/text

linda@lindafaucett.com



TESTIMONIAL
  My partner and I were referred to Linda even though we lived in South Florida and not in the St Petersburg area where she lives.  Since we had done quite a bit of research ourselves in the prior twelve months, we decided that we would continue our search with Linda providing any new listings within our parameters of zip codes, square footage, number of bedrooms and bathrooms and price range.  This process worked well for us since our first step after she provided some potential listings was to visually inspect the outside of each property as well as the neighborhoods. Over the course of three months, she made two visits to show us properties and on a few occasions was also able to obtain showings by property owners.  Ultimately, Linda helped us secure a contract on a house in the wonderful eclectic and laid-back city of Hollywood, FL at a fantastic price and in a great neighborhood.

This property was being sold as a Short Sale by the current owner.  Since we were on a month-to-month basis with our current landlord, this option was fine for us.  When the process dragged on for an additional month after the agreed upon closing date, then for two, three and four months, needless to say, our frustration grew.  So we decided to begin looking at other potential properties that had come on the market since our contract was signed.  Linda completely understood our position and continued to supply us with the few available properties that met our criteria.  Over the course of six weeks, there were only four other properties that sparked our interest.  She suggested that we tour and compare them to the house with a contract. It turned out that not one of them was better when considering amenities, size, location and price.

Linda persistently kept on top of the situation with numerous calls and emails to the listing agent and attorney’s office handling the short sale.  She also patiently and promptly answered our frequent questions.  We are truly grateful for not only her diligence in closely monitoring the status, obtaining relevant information and ultimately moving the sale along, but perhaps just as important was the guidance she gave us during our waiting game.  Anyone who really desires a specific Short Sale property and can wait a little longer than the norm, we would highly recommend that you allow Linda to use her expertise and determination to secure a closing on the right home at a great price.
Juan & Tom
Hollywood, FL

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