Short Sales

The Citrus County real estate market has recently seen a significant rise and properties being sold via a short sale. In the pre-foreclosure or short sale scenario, the lender agrees to let the borrower sell the property for less than what is owed on the loan. Lenders agree to this approach to avoid the expense and delays associated with foreclosure.

Buyers can often do very well in purchasing a short sale property. The process of buying a short sale property can be very frustrating and requires patience and discipline. In most short sale scenarios, there is a rather lengthy delay between the time an offer is submitted and when it is accepted.

Why does it take so long? Because the first thing banks did when profits plummeted is cut staff. When you mix a huge increase in case files and a staffing cut of 50 percent or more. This has caused the bank approval process to takes an average of 60 to 90 days. In some cases, it may take up to 6 months.

We have extensive experience in working with short sale buyers and can help guide you through the process. We are experiencing very heavy traffic on our short sale section of our site....if you see a property that catches your eye, please contact us immediately as the best deals tend to attract offers very quickly.

To sign up go for our FREE Short Sale automated search program go to My Listing Manager and when doing your initial search select Short Sales.

Tip: Do 2 seperate searches for Foreclosures and Short Sales. The reason one search does not work is because no home is BOTH a Foreclosure and a Short Sale and results in no properties being found.