What are short sales? What
are foreclosures? What does it mean for the
average or experienced investor? These are all
excellent questions and we have had some great
success lately assisting people with these purchases
and moving forward with great deals in the Panama
City Beach Short Sales market. Here are a few
of the basics:
Short Sale Property: The
bank and the owner on working together to sell the
property. They have found a magic number that
works...and are willing to consider other offers.
The owner will then be given a 1099 for the
difference. Up until late last year, the
seller would have to pay gains on that money,
however, that is not the case any more! This
is typically in the 65% to 75% range of what is owed
on the property. Please see our other site
that deals with
Real Estate in Panama City and Panama City Beach
Florida here.
Foreclosure Property: These
are less and less of these types of properties since
the development of the Short Sale. But in a
foreclosure the bank has already taken control of
the property. So basically what we have found
is you can get a better deal on the property through
a Short Sale than you can a foreclosure. The cost to
the bank is higher by going through the Foreclosure
process. Foreclosures are a major headache for
Banks and the last thing they want to do is be in
the real estate business whether it's Panama City
Beach Florida Real Estate or anywhere else in the
country.
Contact us today if you are
interested in a Short Sale on your property (home
or
condominium) or if you are interested in viewing
Panama City Beach Short Sale Properties.
Let us give you a hand in
establishing the proper investment strategies when
it comes to Panama City and Panama City Beach
Florida. Whether it is your personal home,
rental property, or commercial real estate, we at
InvestSmarter can make your next deal a success.
Let us show you how to be a Smarter Investor in
Panama City Beach Short Sales including Panama City
Beach Florida Real Estate.
