Legal Question in Real Estate Law in Florida
i want to buy a short sale home by the owner so he can avoid fore closure. he wants my personal information to complete a purchase contract . what information should i get from the owner before signing the contract i live in ct and the home is in florida
1 Answer from Attorneys
If you are in CT and plan on purchasing a home here, I recommend you hire an attorney or obtain a real estate agent to assist you. There are a lot of things that need to occur for a short sale to happen. One being the bank approving the contract to sell the home for a lesser value than what is owed on the home. Before signing a contract, you need to be sure there are clauses in the contract from making it null and void if the bank does not accept the offer to if there are issues found like a second mortgage, back taxes, building code issues and so forth. Really recommend you obtain representation in FL prior to making such a purchase.