Mortgages in Fort Lauderdale and Miami-Dade can be unaffordable in the current South Florida real estate market. If you’re having trouble keeping up with your mortgage, a short sale is an avenue that could save you.
A short sale entails the bank allowing the homeowner to sell their house for less than their mortgage – in the past few years, this has become an increasingly viable option since the South Florida real estate market fell.
If you’re looking into a short sale, there are some key moves to keep in mind. Banks don’t approve every homeowner for a short sale. Before approaching your lender, make sure that you’re a viable candidate by having been pre-approved for a mortgage.
Most importantly, you must approach the bank with the “right price.” If you’re looking to sell your house at a low price, you likely won’t be approved because the bank will lose money. Before talking to your bank about a short sale, be organized and deliberate – banks don’t want to waste their time or money on homeowners unable or unwilling to offer a good deal.
To ensure you navigate a short sale expertly, work with a reputable company who has successfully helped others and can provide you with referrals or testimonials.
Meridian Trust Investments has been making successful real estate deals in the Florida marketplace with buyers and sellers at all levels for over a decade. Our business continues to grow and flourish despite the challenges the real estate market has experienced. Our clients can consistently count on us to find the best deals, close on those deals and get the property ready to rent or resell.
To learn more about real estate investments, short sales and foreclosures in South Florida, contact us today.