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Friday, August 05, 2011

Buyer Question: I heard you can really get a good deal with a foreclosure. Is this something I should consider?

I received an email question this morning from someone who had heard about the good deals you can get buying a foreclosure.

I appreciate questions and the opportunity to respond personally.  Sometimes my response contains information I believe others may find useful as well.  This is one of those times.

I have written a number of articles on my web logs about short sales and foreclosures in the Brevard County, Florida area.  A few of these are listed here...

Why a foreclosure is cheap(er) than a short sale
Who is in charge of a short sale transaction - not the buyer
Buying a foreclosure - "A Blank Canvas"

These are just a few of the posts on my main blog Florida Homes for Sale but if you check it out you will find others among the 1,800+ posts.

My opinion - foreclosures are not necessarily the best option.  Rather, if you have the time to wait in limbo then I would possibly look at the short sale inventory.

What is a short sale?

As for opinion is, most should avoid them.

As for short sales, consider them if you can wait up to six months or more for approval.

If you have any questions about buying or selling a home in Brevard County, Florida email me.

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