We can blame the higher interest rates in the past months for the swarm of cash buyers picking up properties in Florida. “In July 2013, about 40% of the residential property sales were all cash transactions. This is an increase of 35% from June. Short sales also saw a huge rise in July, increasing by more than 14% from the prior month.” Source – DS News August 29, 2013.
The high population of Brazilians, Colombians, Argentinians, Mexicans, Canadians are picking up properties at still bargain rates, and closing within 30 days. In my firm alone, we are able to run and write title, lien search and get a file to closing within 5 days of contract.
The only problem for investors seeking properties in Miami Dade, Broward and South Florida as a whole may be the lack of inventory because of all these sales. At my firm, we meet daily with property owners that have maintained their properties in good condition, are upside down on their mortgages, and can no longer pay. Instead of losing their properties in foreclosure, we can immediately get these clients into a short sale and find an investor to match. The investor can reap the rewards of getting a great property at a great price.
If you are an investor looking for properties or a realtor seeking properties for your buyers, call us today. We can add you to our list of investors and provide these properties to you at no charge.
Call or write us. We are always a phone call away.The Law Offices of Jacqueline A. Salcines, PA 706 S. Dixie Highway Second Floor Coral Gables, FL 33146 Tel: 305.669.5280
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