Find Your Home!

Wednesday, January 05, 2011

Why Buy a Short Sale When the Same is Available For $900 More?

This began as a market update on The Ventura at Turtle Creek, the gated condo community located in Rockledge, Florida near the Turtle Creek Golf Course.

With eleven units on the market there are lots of choices as they are all three bedroom two bath units built in 2006-2008.  All either have a garage or a single detached carport.

Several are short sales while one is a bank owned (foreclosure).

So the question in the title came to mind because there are two units, same square footage, both with detached garage.  One is a short sale; the other, a standard sale.

With the uncertainty of the short process [ time for approval if accepted], why would one not go ahead and buy the standard sale if two properties are priced so closely?  I am not implying that the offer price should be the list price but, if the seller of a standard sale will negotiate, why not try that approach first.

If your goal is a discounted purchase price then the short sale possibly is the best route.  The lender may possibly discount the price much lower than the standard sale if you are willing to assume the wait.

I will note that here a seller is aware of the competition and has priced accordingly - something many sellers fail to address.

The Ventura at Turtle Creek does offer excellent choices as ten of these eleven units are priced under $130,000There are seven listed under $120,000!   One unit (a 2/2 with a carport) sold in December, a short sale for $104,000.

For information on condos for sale The Ventura at Turtle Creek, call me directly at 321-693-3850 or email me.

Gary L. Waters PLLC, Florida licensed real estate agent, Century 21 Baytree Realty, Rockledge, Florida serving Florida's Space Coast including the cities and communities of Melbourne, Viera, Rockledge, Suntree, Merritt Island, Cocoa Beach and the surrounding region.

Follow by Email