Florida Keys Short Sales

422 Listings

$54,000 3 beds  2.1 baths  2,077 sqft 8012 Cypress
Other, FL 00000

IDX

$55,000 3 beds  2 baths  1,312 sqft 4828 Orleans Court
Other, FL 00000

IDX

$79,000 2 beds  2 baths  1,147 sqft 40 High Point Road
Plantation Key, FL 33070

IDX

$79,000 1 beds  1 baths  528 sqft 3312 Northside Drive
Key West, FL 33040

IDX

$79,900 1 beds  1 baths  480 sqft 84961 Old Highway
Windley Key, FL 33036

IDX

$80,000 1 beds  1 baths  547 sqft 19 Sombrero Boulevard
Marathon, FL 33050

IDX

$83,000 3 beds  2 baths  1,356 sqft 3632 Rollin O Lane
Other, FL 00000

IDX

$85,000 2 beds  1.1 baths  1,176 sqft 111 Stirrup Key Woods Road
Marathon, FL 33050

IDX

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IDX MLS IDX Listing Disclosure © 2012

The data relating to real estate for sale on this web site comes in part from the Florida Keys MLS, Inc. Information provided is deemed reliable but not guaranteed. All properties are subject to prior sale, change or withdrawal. The information being provided is for consumers’ personal, non-commeial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. IDX data is deemed reliable but is not guaranteed accurate by the MLS.

A short sale or PreForeclosure is when a bank or mortgage lender agrees to discount a loan balance due to an economic hardship on the part of the mortgagor.  The home is sold for less than the outstanding balance of the loan; the proceeds are turned over to the lender.   In these instances, the lender has the right to approve or disapprove of the proposed sale.  Extenuating circumstances influence whether or not banks will discount a loan balance – such as current real estate market or seller’s financial situation.

A short sale is what is tried before a home goes into foreclosure.  Banks will often allow this method in hopes it will result in a smaller financial loss than foreclosing.

When making an offer on these properties, the bank requires a Proof of Funds Letter, if paying cash or a Pre-Qualification Letter, if getting a loan.   Banks will require you get a pre-qualification letter through their institution.  They do no require that you get the loan through them, so you can get your financing through whomever you choose.  Trying to purchase a home through a short sale can takes months and months.   Banks are getting better about handling short sales but it is still a process.  You will need to be patient when going after a short sale.

• KEY LARGO SHORT SALES
• ISLAMORADA SHORT SALES
• MIDDLE KEYS SHORT SALES
• LOWER KEYS SHORT SALES
• *KEY WEST SHORT SALES

TIP #1:  Buyer’s be aware of liens attached to properties you are purchasing through a bank.  If they offer to purchase your title insurance, let them but hire your own title company to do a separate search to make sure you will receive a clear title.

TIP #2:  State in the contract that the seller is only allowed to accept back up offers or not other offers – this will help ensure that you will not be outbid if a higher offer comes in.