Short Sales in Orlando Florida are becoming more common.Short Sales can provide a great opportunity for investors and potential home owners looking to shop for the perfect deal. Orlando Fl normally has many to choose from.
Short Sale homes in Orlando will give you an opportunity to purchase a home for sale that is likely a bit below market value. This owners of these homes owe more on the mortgage than the homes is listed for so the difference from the mortgage amount to the amount of the sale is the "shortage". This is what is called the Short Sale amount and this is the amount the bank will have to approve in order to sell the home.
With out the bank approval, the owner can will not be able to deliver clear title for the property. Waiting for bank approval can take anywhere from one month to a few months for the short sale to be approved.
Buyers have an opportunity to get a good deal on a short sale but most often than not the sale of the home will be at market value. Call me if you have any questions regarding Orlando short sales or foreclosures.