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19 DEC

Luxury Shorts Sales from Palm Beach to Boca Raton

By Jeff Lichtenstein

Every community from Palm Beach Gardens to Boca Raton, including the most luxurious, Frenchman’s Reserve short sales, Mirasol short sales  Admirals Cove short sales, St. Andrews Boca Raton short sales, to just name a few, has had and currently have “short sale opportunities”.

The short seller is living 2-3 years rent free. The house is not being maintained, the bank is suing, the contractors are suing, the HOA has liens, the 2nd mortgagee has liens, and the potential buyer thinks he’s going to get a sweet deal.

Once in a great while that happens, but 95% of the time, it’s nothing but a great big waste of time. More so now, because values have come back and the bank doesn’t need to take the hit as much today.

How do you know it’s a true short sale? Only if you talk directly to the lender, but you’re buying it from the homeowner who wants a “side deal” which is illegal.

Even in a foreclosure sale, the lender, after you are the high bidder, can refuse your purchase.

For more information on shorts sales and foreclosures, give us a call at (561) 346-8383, or email us at jeff@jeffrealty.com.

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