Short Sales and Foreclosures in Winter Park are a small part of the properties for sale but they play a prominent role in setting pricing for a lot of other properties.

Short Sales and Foreclosures are collectively called “Distressed Properties” and while they can be a bargain for a Buyer, it often does not work out that way. Short Sales are where the Lender agrees to accept less than what they are owed based on the Borrower showing a hardship that will probably lead to foreclosure in the near future. You might think this is a straightforward proposition, but Lenders are notorious for delaying any decision for months and making demands that either cannot be met or make it much less of a deal than it originally seemed, such as asking for a higher price than the Buyer & Seller agreed to, or not fixing blatant inspection problems. Short Sales are not recommended for the average Buyer unless they can be very patient and can cope with a lot of frustration along the way.

Foreclosures can be a little easier as the Lender has already foreclosed on the property and is very desirous of selling it. A Buyer should be aware however that the Lender is just as interested as any homeowner in making as much money as possible out of the sale. It is also highly likely that there the property will be sold “as is” and there will be no warranties or guarantees.

If you think you have a good understanding of these pitfalls and are still interested in purchasing a distressed property, I would be glad to work with you to find the property that fits your needs. Our MLS does not display distressed properties on its public website but if you email me at Paul@WinterParkRealEstate.CO (give me your price range, number of bedrooms and other features desired), I can send you all of the current short sale and foreclosure listings and also put you on an automatic email generator that will notify you each time a new short sale or foreclosure comes on the market.
 
Short sales and foreclosures also have an influence on the pricing of traditional property sales, particularly on Homeowners who are motivated or under time constraints to sell their property. So it is important not to overlook the bargains that might exist here. You are welcome to search on my MLS link anytime, www.WinterParkRealEstate.CO/mlssearch.htm. Or if you want to email me at Paul@WinterParkRealEstate.CO, I can send you all of the current traditional listings and put you on an automatic email generator that will notify you each time a new property comes on the market. Again, give me your price range, number of bedrooms and other features desired.