Although a lot of home buyers have acknowledged the savings potential offered by a Collier County short sale, most are hesitant to buy such homes because of the long wait usually associated with it. It is a fact a short sale could take as long as 6 months or even longer depending on the circumstances surrounding the transaction. As you know, situations vary and are dependent on a variety of factors, most of which cannot be controlled by the buyer.

It is only right that buyers do a bit of groundwork before deciding on buying the property being sold as a short sale. Among the things you or your agent could do include the following:

Comparable sales – By knowing how much similar properties have sold for you can have a clear picture on how much you should offer. Do not forget to consider the lender will be the one deciding the final sale price so, you should make your offer as close to the home’s current market value as possible.

Check Your Agent’s Experience – If you are working with a Realtor with very little or no short sale experience, the chances of your offer being accepted is reduced. Go with an agent who knows what they are doing and possesses both the experience and knowledge required for such a transaction.

Find Out the Number of Offers Submitted – If your offer has not been accepted by the seller almost immediately, chances are there are other offers being considered. Try to find out from the short sale agent how many of these offers the seller has received and if you need to adjust your offer, then do so.

Check if the Short Sale Package is Complete – A lender will not consider a short sale if the proposal lacks a required document. It is within your right to find out if all the documents have been submitted.

Determine the Number of Lenders – If the seller is dealing with more than one lender, you can expect the Collier County short sale transaction to take longer.