Florida Keys Short Sale Listings

These are Homes that are being offered for sale by the seller that is at a price that is less than what the seller owes on his mortgage. The sale would be subject to an approval from the seller’s lender to complete this sale. First step is that the lender wants to qualify the seller to be in distress and prove hardship with a reason for the seller’s decline of income. Then the lender next has the home appraised for value. The lender will use this appraisal to determine if they want to accept the terms of the short sale. At this point they will counter or reject the offer that the seller has brought to them. The process is now starting to move quicker, but sometimes can be a 6 month to 1 year process to complete a short sale from start to finish. When looking to purchase a short sale home it is best to find out how far through the short sale process the property has progressed.