If you are interested inÂ purchasing aÂ Wellington FL short sale there are several pitfalls that can come up along the way. Â However pitfalls can also come up if you are purchasing a bank owned home or traditional sale (home with equity), the risk varies.
Here are the top 5 Wellington FL short sale pitfalls that I have experienced over the last several years:
- TIME: Wellington FL short sales can take a long time to be approved, but they can also be denied, there is NO guarantee when it comes to short sales.
- DEFERRED MAINTENANCE: Some Wellington FL short sale sellers abandon their home when they can no longer afford it and some will no longer maintain it.
- BEING SOLD â€œAS-ISâ€: Most Wellington FL short sales will be sold as-is, which means the seller is going to make zero repairs regardless of the inspection report.
- TITLE ISSUES: Title issues can create problems along the way and can possibly delay closing.
- MISSING ITEMS: Sometimes on the day of closing you may notice some items are no longer there.Â Example; appliances, light fixtures, window treatments and hardware.
Originally posted atÂ http://wellingtonfloridashortsale.com/wellington-fl-short-sale-pitfalls-for-buyers/
Latest posts by Michelle Gibson (see all)
- The Short Sale Seller & Buyer MUST Sign & Execute the Offer! - July 26, 2011
- Short Sales Stay on The Market a Long Time! - July 25, 2011
- Wellington Short Sale Agents: Does the Seller Have a Say in the Process? - June 26, 2011
- SHORT SALE PITFALLS FOR BUYERS - May 20, 2011
- Wellington FL Short Sale Agents: Communication is Key! - May 5, 2011