Buying Foreclosures in Spring Hill is a simple process. Every type of foreclosure gets listed in the MLS along with the other houses. HUD homes, bank repos, VA Foreclosures, corporate foreclosures, and short sales all appear in the MLS. The trick is knowing how to set up the special search to find them. All agents in our area have access to this info, but many don’t know how to set it up.
With the exception of short sales, buying a foreclosure in Spring Hill is the same as buying any other home. We go look at it, make an offer, get it accepted, and move in. The forms and process are all the same. Owners of foreclosures may take a few days longer to make a decision, but it’s usually not more than 3 business days.
For a list of foreclosures, please use our Contact Form, and we’ll be happy to email you one.
Short sales are an entirely different animal. With a short sale, the seller still owns the house and is trying to get the bank to take less than what’s owed. Once the seller gets an offer, they basically send it off to the bank to see if it’s enough. The bank can take from 3 to 9 months to decide, and there’s no guarantee that the bank will say yes. We shouldn’t ever expect a decision in less than 3 months.
Furthermore, the banks frequently wait to see if they get a better offer. In other words, you could have waited for 3 to 6 months, and then someone comes along with a better offer. In that case, you’re out of luck. Only clients who completely don’t need or want to move should consider short sales.