If you are serious about finding a good deal on a new Miami home than you already know that short sales are a great option. Whether you are seeking a primary residence or investment property short sales often sell for less than comparable homes in the same area. Here are a few suggestions when buying a short sale home that will make the process a little easier and help you to avoid some of the more common mistakes.
- Find a reputable short sale specialist with experience here in Miami and determine exactly what you are looking for. Establish a good plan with him/her as to how you will proceed when new short sales become available.
- Establish your financing in advance with a local lender. This may save some time between when you find the property that you want and actually get to closing. The better prepared you are, the better.See the property in person before making an offer. Being dissatisfied after closing is not a good situation to be in.
- Although short sale homes in Miami are known to be good deals be sure to make a reasonable offer. No bank is going to accept an offer that is ridiculously low.
- A successful short sale requires timing. When you see a property that you like take action immediately. Miami short sale homes are usually pretty good deals and you are not the only person looking at them. In this case, the early bird definitely gets the worm.
Following these simple steps should help to make your home buying experience a pleasant and memorable one, and remember timing is everything!