How to find a short sale in Florida?

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How does a short sale work for real estate?

A successful short sale helps the lender to avoid yet one more foreclosed home on their books and all the cost and time involved in maintaining that home until its potential sale. A short sale can also reduce the likelihood that the borrower or homeowner will trash the property on his way out the door.

What does MLS IDX mean for Florida Keys?

MLS Internet Data Exchange (IDX) information is provided exclusively for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing, and that the data is deemed reliable but is not guaranteed accurate by the Florida Keys Board of Realtors.

How long does it take to get a short sale done?

This is the typical short sale process from the bank’s end of things, once they receive the seller’s package: They acknowledge receipt of the file. This can take longer than 10 days; sometimes, it is a month or more. A negotiator is assigned, which might take up to 30 days.

How does a short sale work in a foreclosure?

A short sale is a chance for a lender to receive more than it would have in a foreclosure—but they are not going to want to release any mortgage obligations at rock-bottom prices, either. This is the typical short sale process from the bank’s end of things, once they receive the seller’s package: They acknowledge receipt of the file.

What causes a bank to grant a short sale?

Banks grant short sales for two basic reasons. The seller is experiencing a hardship and there isn’t enough equity in the home to pay off the mortgage after paying the costs of sale. Some examples of hardship include unemployment or reduced income, divorce, a medical emergency, a job transfer out of town, bankruptcy, or a death.

Where can I find list of short sales?

Click on the city near you to view available listings or click on the county name link to see all Short Sales properties in that county. What is a short sale and what are the benefits?

Are there any short term vacation rentals in Florida?

With the advent of websites like vacation by owner, AirBnB, and companies that specialize in managing short-term vacation rentals, more and more property owners in Florida are listing their residential property for short-term vacation rentals.

What are legal considerations for short term vacation rentals?

Title in Short-Term Vacation Rental Property. Property owners also need to carefully consider how the short-term vacation rental property is titled. In order to avoid any potential personal liability, it needs to be considered whether a single purpose entity should be holding legal title to the property.

Click on the city near you to view available listings or click on the county name link to see all Short Sales properties in that county. What is a short sale and what are the benefits?

Is it good to buy a house on a short sale?

A short sale home can be a good opportunity for some buyers, but also presents challenges. You could get a good deal. Banks (and homeowners) are motivated to find a buyer for a short sale as soon as possible, so sometimes they’ll list the home at a low price to keep it from languishing on the market. There’s less competition.

How long does it take for a short sale to go through?

It can take up to a year for a short sale to go through, so even if you make an offer, keep exploring other homes for sale. You never know when your dream home will become available at the right price. How do I know if a listing is a short sale?

How is a short sale different from a foreclosure?

Short sales are different from both traditional home sales and foreclosures. In a traditional home sale, you work with only the seller and the seller’s agent to make an offer. In a foreclosure, the lender has already bought the property, so you’ll make an offer directly to the lender, without a buyer involved.

Do you need a realtor to do a short sale?

Of course, you’ll need a real estate agent to sell your property—and since short sales are complex, you’ll want an agent with experience in the short sale process to handle the deal. You can search for agents in your area with certain expertise on realtor.com®’s Find a Realtor tool.

What’s the next step in the short sale process?

If loan modification is not an option, the next step is to move forward with a short sale. 2. Talk to your lender about a short sale Since a short sale means you’re trying to sell your house for less than you owe on your mortgage, your lender will have to sign off on it.