Sarasota Short Sale Homes For Sale

Sarasota Short Sale Homes In Sarasota, Fl.

Sarasota short sales occur when the owner of a property attempts to sell 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.

Sarasota short sales are very common due to the market depreciation which occurred from 2005 through 2010. Sarasota short sales are abundant, and can offer the buyer an alternative to bank owned foreclosures. There will be typically less competition for a short sale property as compared to a Sarasota bank foreclosure properties, however there is a reason. Short sales are typically lengthy, often times talking several months for a bank to respond to the buyer/seller sales contract. Since the bank must sign off for a lower payoff, the sale between the buyer and seller can not take place until the bank approves the sales price.

For this reason, if a buyer has any type of time constraint for a purchase, I recommend avoiding short sales and focusing on Bank foreclosures or sellers who are not selling in a distressed position.

Additional Sarasota Short Sale Homes Information

View all the Sarasota Short Sale homes 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 offers.