Naples Real Estate

Everyone who has shown an interest in the Naples real estate market lately has heard the term “short sale”, and most think this is going to be a bargain for the buyer.  While this could be the case, it doesn’t always hold true.  A short sale only means that the homeowner owes more money on the property  than the house can be sold for, the lender must write off the difference, and has not yet reached foreclosure status.  The homeowner retains title, but it is the mortgage holder that makes the decision whether to accept the “offer to purchase”.  This means that someone in the lenders organization must take the responsibility for accepting a ”loss”.  This can take months, keeping the prospective buyer in limbo, and still end up in a no sale.