KAREN CHESLEY P.A.
CUDJOE KEY, FLORIDA

Karen is always receptive to meeting new people and making new friends. As your real estate agent you will receive her expertise and friendship. Bank foreclosures, which are also referred to as REO's, Real Estate Owned, and Short Sales, are definitely a part of today's real estate market. In a short sale the lending bank has given the approval for the property owner to sell the property for less than the amount owed on it. The question is, are these types of sales right for all buyers? Here we hope to help you answer that question. Also a factor that a buyer should consider if they are looking to purchase a home in a distress sale such as a short sale or foreclosure, is the fact that there maybe additional hidden costs such as outstanding liens or violations to building codes along with conformity issues with the structure. Conditions of these homes are usually not as good as a home when the seller is not distressed. Many times a seller in a short sale will not pay attention to the property because they know they are giving it up, and it is just a matter of time before they lose ownership in the property. Once the home has gone to foreclosure, the same applies along with other factors that affect the price. Such as the tendency of vandalism that occurs causing the removal of air conditioning units, doors, plumbing fixtures and a lack of repairs to critical areas of the structure such as roofs, which when left unfixed, can cause other problems like mold and rot. When dealing with short sales a buyer's offer must be approved by the seller and a third party. Such approval from the third party bank or banks can delay the sale for months. At times responses can be quicker if the bank has a preapproved price they are willing to accept. During that time a buyer may miss the opportunity to purchase another property that may fit their needs and may be in better condition than one in a distress situation. Sellers in non distressed homes realize that they are competing with homes that are short sales and foreclosures, so in most instances, they are priced only slightly higher than distressed sales. Remember the cheapest property is not always the best deal. If foreclosed property or short sales are the type of transaction you want to pursue, remember the less the contingencies the better the chance of your offer being accepted. Usually cash deals with quick closings will give you the best chance to obtain a distressed property in a reasonable amount of time. However that is not guaranteed. Do your homework and know which homes give you the best value. Realize that many distressed homes will need work and understand what the cost to bring that home up to marketable standards may be. Let our experience and knowledge help you through the process. This Bank owned home, located across the street from the Gulf of Mexico on Grassy Key MM 57.5 was recently remodeled with tile throughout, custom kitchen cabinets, tiled counters, new bathroom fixtures and tiled shower. Seller will credit buyer up to a maximum 3% of sales price towards closing costs if negotiated in final signed counter offer. Don’t miss another Keys Sunset. Contact Karen at 305.923.9074. The blue waters that surround The Lower Florida Keys are part of the Florida Keys National Marine Sanctuary home to America's only living coral barrier reef. On land there are 4 National Wildlife Refuges with miles of biking, hiking and bird watching trails. Balmy summer nights, tropical trade winds, and gorgeous sunsets add to the pleasures of owning a piece of real estate in paradise, your home in the Florida Keys! Whether you are looking for waterfront or non-waterfront living, we can help you find your dream home. Let our knowledge, experience, and integrity breeze you through your sale so you can start living the