Vero Coastal Homes 
       Exclusively Representing Home Buyers

   What Does it Mean When a Vero Beach Home for Sale is Called a Short Sale?

   Homes advertised as Short Sales are currently 20-30% of all available listings
   for sale in Indian River County. The percentage varies by location and price range,
   with the majority being at $100k to $400k list price. Homes built during the
   2003-2006 construction boom in Vero Beach are most likely to be in this category.

   A Short Sale is when the lender agrees to discount their payoff to allow a sale
   and the following conditions are met for a home for sale in Vero Beach Fl:

• The mortgage is delinquent or in default (pre-foreclosure) 
• The home's value is less than the mortgage balance
• The home owner/seller can demonstrate a financial hardship      

    If these conditions are met, the seller benefits by:

• Avoiding Foreclosure and having their credit score ruined for 10 years
• Staying in the home during the sales process and not making payments
• Feeling that they have made the best of a bad situation, doing the right thing.

    You as a potential buyer benefit because:

• The home is usually better maintained than a foreclosure
• The price is adjusted to current market value and available for sale

    The Lender benefits from:

• Avoiding additional expense of Foreclosure and eviction
• Avoiding vandalism and liability for an abandoned home
• Removing bad debts from their books more quickly

    How a short sale transaction is different from a conventional sale:

• The lender must approve the sales price and can take more than a month to respond
• The home will always be sold "as is" with right to inspect but no repairs will be made
• Low offers are typically ignored rather than responded to with a counter offer
  
   The standard of short sale processing is still evolving but has improved dramatically from last year's chaos. With Certified Short SaleProfessional as your buyers agent,(Vero Coastal Homes) you can buy a home at half of it's 2005 sale price.