Buying a Wellington Short Sale can be a very daunting and confusing process, especially if you are not working with an experienced Wellington Short Sale Agent who can guide you through the process. This is the forth in a series of post, which will serve to educate Wellington home buyers about the often misunderstood process called a short sale:
Buying a Wellington Short Sale: Expect to Pay Market Value!
While Wellington Short Sales are technically considered “distressed sales” the prices that short sales sell for are not! So far in 2012 the list to sales price ratio for Wellington Short Sales is 97.05%, which means a short sale listed for $300,000 will sell for $291,150, that’s less than 3% off the list price.
Wellington home buyers who think they will be able to pick up a Wellington Short Sale for 20% off the list price are mistaken. Wellington’s list to sales price ratio across the board for Traditional Sales, Short Sales & Bank Owned homes for 2012 is almost 96% and I would not be surprised if that number gets to 97% or even 98% by the end of the year.
If you are interested in purchasing a Wellington short sale and need an experienced short sale agent contact me today!