* SHORT SALE DISCLOSURE:
SHORT SALE properties are normally offered in "AS-IS CONDITION",
which means that the seller will not repair defects to
the property. The buyer usually is allowed to have a home
inspection but the seller will not repair anything. This lack
of guarantee from the seller often encompasses all mechanical items,
structural defects, electrical, plumbing, roof, pest extermination,
mold, radon, etc.. Normally, a clear title is the only guarantee
provided to the buyer from the seller.
SHORT SALE usually means that the seller owes more money to the bank
than the present fair market value of the property, and the seller
will not pay the difference at closing.
The Seller advertised list price is usually far below what the bank
is willing to accept to sell the property. So, even if the buyer
paid the full amount of the list price, the seller normally does not
have the ability to sell the property at the advertised list price.
Often, the seller has no idea of what price the bank will accept.
The bank will determine how much they will sell the property for,
not the seller. The bank
determines what they will accept depending on how much money
the bank is willing to lose.
The buyer may come to an agreed sales price with the seller but the
bank can stop the transaction.
It is not uncommon for the bank to
take several months for them to respond even to the initial offer
from the buyer to purchase the property, and to actually close on
the transfer of the property can take more months as well. |
All information is
deemed to be reliable. It is subject to change and cannot be guaranteed.
The data relating to real estate
for sale on this Web site come in part from the BR Program (BR Program) of the
Florida Gulf Coast Data Base. Properties listed with Brokerage firms other than
Sloan Realty, Inc. are marked with the BR Program Icon and detailed information
about them includes the name of the listing Brokers. The properties displayed
may not be all the properties available through the BR Program. The data relating to real estate
for sale on this Web site come in part from the BR Program (Broker Reciprocity Program) of the
Florida Gulf Coast Data Base. Properties listed with Brokerage firms other than
Sloan Realty, Inc. are marked with the BR Program Icon and detailed information
about them includes the name of the listing Brokers. The properties displayed
may not be all the properties available through the BR Program.