What is a Short Sale?
Selling a property for less than is owed to the bank. In many cases, banks will not authorize a short sale until the borrower is at least several months behind on their mortgage payments. In 2008 and 2009, just after the financial crisis impacted Miami Beach's luxury real estate market, we sucessfully represented both buyers and sellers of short sales properties. It is very important for sellers to take into account that the short sales process is complicated. The real estate professional (both Brokerage firm and Agent) MUST be skilled in the handling of short sale offers and negotiations with lenders.
Property OWNERS: Are You Eligible to Short Sell ?
If you owe your lender more than you believe your property is worth today, or if you are having trouble keeping up with your loan payments, Fortune International can help you. Contact us to learn more.
Note to Short Sales BUYERS: If you are a qualified (cash) buyer, the quantity and quality of short sales properties in Miami Beach is greatly diminished. Currently, the BEST properties are being purchased in mostly all-cash transactions by affluent, experienced, and highly motivated Foreign Buyers. In many cases, "A" class waterfront properties are being purchased as soon as they come on the active market for sale. The best deals, particularly in Miami Beach which has the largest selection of real estate directly on the water, are being sold quickly with multiple offers. We work directly with many Miami Beach waterfront property owners to give our clients the first opportunity to purchase these highly sought-after homes and condominiums.