Skip down to page content.

Jacksonville Short Sales

Jacksonville Short Sales

Jacksonville short sale helpJacksonville short sales for sellersJacksonville short sales faq

What are Jacksonville Short Sales?

 

A short sale is simply a method of selling your home for less than the amount you owe the bank.  To a buyer, this means that you can pick up a home for less than fair market value (within reason) and for less than what the seller owes the bank.

How is a Jacksonville Short Sale Different from a Foreclosure?

The major difference between a short sale and foreclosure is that in a short sale the individual homeowner owns the home while in a foreclosure the bank owns the home.  Many short sale buyers are running around thinking that a short sale means that it is bank owned.  This is not the case.  The bank has to approve a short sale, however, because they are receiving less than what is owed to them and they have to make the decision on whether to release the lien for less than full payoff.  In a short sale, the offer is made to the seller and a contract occurs between the buyer and seller, not the buyer and bank.  It is contingent on 3rd party approval and there is a specific addendum that is used that addresses this.

Many homes for sale in Jacksonville are still potential short sales.  This becomes very common when you have a sharp drop in the real estate market after a lot of appreciation in the prior few years.  Many homeowners who bought since 2005 or so find that they are upside down on the home and need to short sale to get out.  This also happens when homeowners bought low and refinanced or took out a line of credit against the home.

Jacksonville Short Sales are Complicated

Jacksonville short sales are not the easiest of transactions, however, with a little patience you can get a really good deal on a home this way.  Short sales should never be attempted by anyone that lacks the education and training to successfully complete this type of transaction.  The use of a Jacksonville Short Sale Realtor that is a specialist is crucial to the success of your transaction.  When a short sale is not done correctly, the probability of success is extremely low.  When done correctly, there is a much higher chance of success. 

Many factors go into Jacksonville short sales for the buyer and the seller.  For the seller the type of loan you have, whether you have a second mortgage, even the bank that holds your loan are all factors.  Did you know that an acceptable offer to the bank varies on the type of loan you have?  Sending a lowball offer to the bank that has no chance of acceptance can cost you much more than time.  Structuring the short sale deal for success is the job of your short sale specialist.

Jacksonville Short Sale Realtors

 

We are Jacksonville short sale Realtors.  We have been doing short sales since they first appeared in the Jacksonville real estate market around 2007 and can help you whether you are a seller who owes more than your home is worth or would like to buy a home through a short sale.

Jacksonville short sales are a win-win for the buyer and the seller when done correctly.  Using a short sale specialist greatly increases your odds whether you are a buyer or a seller.

The Lim Team, Stephanie Lim CDPE, CPA, ePro, REALTOR and Jay Lim, REALTOR at RE/MAX Unlimited -  904.371.9654

Ponte Vedra Beach Real Estate * Jacksonville FL Homes for Sale * Jacksonville Florida Real Estate * Jacksonville Beach * Atlantic Beach * Neptune Beach * St Augustine* Nocatee* St Johns


Serving the Jax, Ponte Vedra Beach Northeast Florida Areas of: Jacksonville FL real estate, Ponte Vedra Beach FL homes for sale and real estate, Jacksonville Beach, Neptune Beach, Atlantic Beach, World Golf Village, Nocatee, Julington Creek Plantation, Bartram Springs, St Johns, Palencia, Durbin Crossing, St Augustine, St Augustine Beach, Vilano Beach, Green Cove Springs, Orange Park.  Duval County, St Johns County and Clay County.

The Lim Team at RE/MAX Unlimited - Re/Max in Ponte Vedra Beach FL can help you buy or sell: Jacksonville homes for sale, Ponte Vedra Beach homes for sale, condominiums, foreclosures, short sales, new homes, builder inventory and new construction from builders, Jacksonville real estate resales, bank owned properties.


About the Jacksonville MLS real estate listings on our site:

The listings on our website shown on the different community pages and area pages come from the local MLS through IDX program as a data feed.  These listings are not input by The Lim Team or Re/Max Unlimited.  We do not have the ability to change anything in the listing...add any information or correct any information.  We are not responsible for any errors or mistakes in the information as we are not the source of the data.  Any problems with the listing information should be directed to the listing broker, not us.

All listings ©2014 Northeast Florida Multiple Listing Service, Inc. All rights reserved. The data relating to real estate for sale on this web site comes in part from the Internet Data Exchange (IDX) program of the Northeast Florida Multiple Listing Service, Inc. Real estate listings held by brokerage firms other than Re/Max Unlimited are marked with the listing broker's name and detailed information about such listings. Data provided is deemed reliable but is not guaranteed. IDX information is provided exclusively for consumers personal, noncommercial use, that it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. This data up-to-date as of the date on the detailed listing information.

Google