Buying a Gainesville short sale: 3 tips for success

Buying a Gainesville short sale can be a tricky thing. Having a game plan can greatly increase your chances of successfully completing a short sale.

What is a short sale?

A short sale happens when a homeowner ends up owing more on the home than it is currently worth in today’s marketplace, and the lender is willing to take less than what the homeowner owes.

There are currently 197 single-family homes listed as short sales in Alachua County, ranging in price from $40,000 for a 3 bedroom, 2.5 bath, 1100 square foot home in Southeast Gainesville to $595,000 for a 3 bedroom, 3 bathroom, 2116 square foot home in Melrose.

Three tips for successfully buying a Gainesville short sale

The rules about buying short sales always seem to be changing….however, there are 3 rules that remain constant:

1) Find a Realtor who has the education and experience to handle short sales

2) Get pre-approved

3) Submit your highest and best offer the first time around

About Coleen DeGroff