Regatta Bay Short Sales are a great way to get a home for half of what they were selling for at the height of the market. For example the house shown in the picture above was purchased in 2005 for $950,000 and then sold in August of 2009 for $475,000 as a short sale!
Now deals don’t happen like this every day but here are 4 steps that will help you land a great deal like the example above.
Make a list of what you want. There are so many Regatta Bay Homes For Sale right now with many different options and at different price points so you can do yourself a big favor by creating a list of features and benefits that you want (a swimming pool, view of the bay or golf course, 4 bedrooms) and then determine the price point range that you would be comfortable making offers. This list will keep you focused and help you get what you want in the end.
Get your money in order. If you are going to finance the purchase of your Regatta Bay Short Sale then you should talk to a mortgage lender to be clear what all your financing options and capabilities are. This will give you confidence that when you find a great deal you will be able to buy it before someone else beats you to it. It also gives you a stronger position to negotiate from if you can tell the bank that you have your financing in place and can close as soon as they are ready.
Sign up for our Free Regatta Bay Foreclosure and Short Sale Alert. When you sign up for the alert we will email you every time a new Regatta Bay Foreclosure or Short Sale hits the market then you can compare it against your list of what you want. If it matches we can set up an appointment to go look at it. If it’s a winner you can move toward writing an offer but do your due diligence first.
Do your due diligence. The bank is going to send out an appraiser to see if your offer is a “fair” based on current market conditions and not simply a low ball shot in the dark. If you offer is too low the bank may just reject it outright and if it’s too high you are not going to get the deal you could have. Do a market analysis to determine what is selling and for how much, how long has the property been on the market, how much do they owe, are there other outstanding liens – things like that. Once you have that kind of information you can create a very strong argument for why your “low” offer is a fair one and one the bank should take. And often times they do.
For more information on how to get great deals on Regatta Bay Short Sale contact Keller Williams Realty’s At The Beach Team and they will be happy to help you find the next Regatta Bay Home for $.50 cents on the dollar!