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Monday, November 03, 2008

Faster than a short sale? I am not sure...

I saw a flyer this morning from one of the local builders. The prices advertised were fairly attractive. The one thing that caught my eye was the statement that the "average build time - 4.5 months - faster than a short sale."

I do know that short sales take time. I have not seen any statistics but I believe 60-90 days from the offer to close may be a realistic period. I have never seen a 4.5 month wait for an answer (that is 18 weeks). Maybe this builder has some statistics I have not been made aware of yet.

I will concede that buying a short sale does take more time than the usual 30-45 days for a straight sale with financing. A cash deal is only a couple of weeks or so until closing if there are no problems.

Buying a short sale does take patience. There is no guarantee your offer will be accepted. And there is no specific period for a firm response. If you are considering a short sale you may have a little wait.

If you are interested in purchasing a property in Viera, Suntree or Rockledge, Florida, please give me a call. I would welcome a chance to email you some listings or discuss the market.

Gary Waters, Florida licensed real estate agent, Century 21 Baytree Realty, Rockledge, Florida.

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