Short sale homes in Fort Lauderdale,FL, are homes that can be bought before the property goes into a foreclosure auction.Here's how to purchase one: find a house you want on a website that offers foreclosure Fort Lauderdale short sale listings, get in touch with the owner, and begin talking with the bank and the owner at the same time to acquire the house for a lot less money than the owner owes the bank.
Even though short sales in the Fort Lauderdale real estate market can take longer to close than standard sales, they are still a great way to get a good deal.
About Fort Lauderdale
Between Miami and Palm Beach on Florida's stunning South East Coast sits the city of Fort Lauderdale. Given that it is surrounded by the Atlantic Ocean and a wide variety of beautiful boatable rivers, Ft. Lauderdale proudly claims the nickname "Venice of America."
What Advantages Do Short Sales Offer?
There are many advantages to a short sale such as:
- Gives the homeowner the means to prevent foreclosure.
- The lender stays away from adding more bank-owned properties to its already sizable inventory of foreclosures (REO).
- By avoiding other abandoned and decaying property, the community helps other homeowners maintain the value of their homes.
- The commissions given to real estate brokers allow them to run and expand their companies.
- The property's final buyer benefits from a decent bargain because they often pay less than market value for the property.
- Because of the value to the buyer, the lender to the end-buyer is able to close a strong loan with minimal exposure and instant equity.
Short Sales: Do They Actually Work?
It depends on who you ask.We are successful short sale experts in FL because we have the knowledge, perseverance, and experience needed.
Are Your Agents Certified Distressed Property Experts (CDPE)?
To help with your transaction regarding short sale condos in Fort Lauderdale, we do indeed have CDPEs on staff.
Your Credit Score
There will still be some damage to your credit score from the short sale of condos in Fort Lauderdale, FL, even if it might not be as bad as a foreclosure or bankruptcy filing. In order to settle the difference between the purchase price and the mortgage balance, you might also need to sign a promissory note.
Your liability for the debt will be established by the promissory note, and the lender may take the collection and legal action against you to recoup the obligation. You might be obligated to pay taxes on the amount of debt that the lender has agreed to erase as a condition of Florida short sales if they do not need you to sign a promissory note.
If you are looking to do a couple of short sales in Fort Lauderdale, call us today for a free consultation. We can assist you in avoiding foreclosure since we have completed hundreds of short sales in Fort Lauderdale.
Additionally, Florida Homeowners Solutions provides full-service, expert property management services that are affordable and focused on your bottom line. We offer extensive knowledge of the downtown rental market, a network of vendors and industry experts, and a full range of services designed to help you save both time and money.