Hiring an experienced Realtor when buying a Lakeland Short Sale is essential.
I represented the buyers for a home in Carillon Lakes in Lakeland, Florida that was listed as a short sale and my buyer did not walk away – a successful short sale transaction from start to finish.
Showing Lakeland homes listed as Short Sales requires extra precaution when representing buyers. I always tell my buyers to be patient, have a pre-approval letter from a reputable lender or proof of funds. My estimated closing date is about three to six months out. If a potential buyer is looking for something to move in right away, a short sale may not be an option.
Before we made an offer on this Carillon Lakes home, a comparable market analysis is completed to make sure that the home is priced right. Too often the home is priced too low enticing buyers and agents to make an offer only to find out later that the short sale will not be approved after waiting for months.
- 4026 Whistlewood Drive, Lakeland Florida 33811
- Sold for $149,000
- 3 bedroom, 2 bath,
- hardwood floors,
- low monthly homeowners association fee
- 24/7 security guard
- Listing Date October 2009
- Contract Date December 2009
- Date Closed May 2010
Interviewing the listing agent is key to find out if the seller turned in all the required documents needed to complete the short sale process. All too often, it turns out that there are still documents missing or the sellers are not cooperating, delaying the process even further. Asking how many lenders are involved and if there is private mortgage insurance on the home. More importantly getting updates from the listing agent and keeping my clients, the buyers up-to-date on the status is a key factor having a successful short sale closed.
Buying a Lakeland short sale is not for the faint at heart and patience is required process. Hiring an experienced real estate agent who is experienced on both sides of the transaction is basis to a successful closing.