Buying a Wellington Short Sale: Get your Checkbook Out!
Buying a Wellington Short Sale can be a very daunting and confusing process, especially if you are not working with an experienced Wellington Short Sale Agent who can guide you through the process. This is the fifth in a series of post, which will serve to educate Wellington home buyers about the often misunderstood process called a short sale:
Once you write an offer on a Wellington short sale it will be submitted to the seller, who will either accept, counter or reject. If you and the short sale seller come to terms be prepared to put down an initial escrow deposit, which is usually between $1,000 and $5,000. This escrow deposit will be held by a brokerage, title company or attorney. Depending how the contract is written the initial escrow may or may not be refundable.
Once the contract is fully exectued it will then be submitted to the short sale lender for approval.
If you are interested in purchasing a Wellington short sale and need an experienced short sale agent contact me today!
Part 1: What is a Short Sale?
Part 2: Short Sale Negotiations
Part 3: Short Sales are NOT Short!
Part 4: Expect to Pay Market Value!
Read more: http://wellingtonhometeam.com/buying-a-wellington-short-sale-get-your-checkbook-out/#ixzz1tiW1k5ts