Sarasota Homes Group Real Estate Team
Share:

Sarasota Short Sale Single homes In Sarasota, Fl.

Sarasota short sale homes for sale are high demand, as there are sometimes good deals to be had! A short sale occurs when the seller of the home tries to sell the home for less than the amount due to their lender. The seller hopes that the bank will accept a lower payoff than the mortgage balance versus the alternative of a bank possibly having to initiate a costly foreclosure in the event the seller stops paying the mortgage altogether. Read more

Sarasota Foreclosure Homes For Sale

Sarasota Short Sales Overview

Sarasota FL. Neighborhoods Index:

View summary of Sarasota neighborhoods organized by area.

Sarasota FL. Neighborhoods List:

View our entire list of Sarasota area neighborhoods.

RECEIVE OUR FREE COMMUNITY SUMMARY GUIDE INSTANTLY

Learn Communities

  • Current Price Ranges
  • Residence Size Ranges
  • Community Age
  • Popular Amenities

Instantly Notify Me of Brand New Listings From This Page:

Name(Required)
Consent
Insight Background

Insight For The Sarasota Short Sale Market

Sarasota Short Sales - Insight

I’m Interested

Contact us to get started.

(941) 265-2455


Pros:

  • Possibility to get a value-priced property

Considerations:

  • Time consuming process. It may take months to get a response to an offer

Lifestyle:

  • Sarasota is rated as a top small city in the country

Shopping:

  • Shopping galore in Sarasota downtown area and UTC Mall

Beach:

  • Only very rarely do short sales near the beach come on the market, but not many, as these properties are easier to sell if priced well

Downtown:

  • More possibilities to acquire downtown short sales, but mostly condos rather than single homes

Additional Sarasota Short Sale Homes Information

View all the short sale homes for sale that hit the market! If you have any questions or would like to see any, please call us. It is important to view these as soon as possible because they sell fast, and for us to perform a market analysis to establish a pricing strategy. As said before, many receive multiple offer, so you will usually need to act quickly.

North Port FL. Homes For Sale

Short Sales Real Estate Frequently Asked Questions


What is a Short Sale?

In a short sale, the lender agrees to settle the debt owed on the property for less than the full amount. “Settled” means that the lender is writing off the debt (which is why you get a 1099 after a short sale for the amount of debt forgiven) and that they are not going to go after you for the money they lost by filing a deficiency judgment in the future.

How long does it take to purchase a Sarasota short sale home?

The process of settling a home going through a short sale can be very lengthy, averaging 2-6 months.

Does the lender have to accept a full list price offer received by Seller?

No! The Seller set the list price, however the lender decides if they are willing to accept that list price. It is possible that the lender will counter back on a full price offer above the list price.

Will the lender forgive the mortgage excess debt owed by the seller?

Not necessarily. It is entirely possible that the lender will require the seller to sign a promissory note at closing indicating that the seller must repay any outstanding amount due over a set period of time.

Questions?

We experienced local Sarasota real estate experts.

The Sarasota Homes Group Experience

Need Assistance?

  • Get Answers To Listing Questions.
  • Schedule Showings.
  • Get Answers To Community Questions.
  • Experienced New Construction Realtors®.
  • Matching Neighborhoods To Your Needs.
  • Learn About Our Local Market.
  • Top Local Realtors® in Buying & Selling.

(941) 265-2455