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 a Certified Short Sale Professional as your buyers agent,
  (Vero Coastal Homes) you can buy a home at half of it's 2005 sale price.