New vs. Foreclosed/Short Sale

NEW HOMES:

  • Protected by workmanship, material and structural warranties, saving your clients from large out-of-pocket expenses after purchasing
  • Available in a variety of designs, sizes and locations to suit your clients' preferences
  • Available for immediate occupancy or in a timeframe that is conducive to your clients' moving schedule
  • More energy-efficient, saving your clients money and helping the environment

FORECLOSURES/SHORT SALES:

  • Limited selection. Your client has limited choices of locations, features, and characteristics of a foreclosed home.
  • Costly repairs. Often times, when a previous owner is unable to meet the financial obligations of a mortgage, they stop maintaining their property altogether. Your client could end up with excessive bills to get the home back to a liveable condition.
  • No disclosure. There is no requirement or full-disclosure on details and drawbacks on a foreclosed property, and some lenders reserve the right to renegotiate the terms of the short sale at the last minute.
  • No warranty. Foreclosed and short sale homes do not come with any kind of warranty, and often are not even available for inspection. This leaves the new owner open for substantial risk.
  • Financing. Even though purchasing a foreclosed home might mean a discounted purchase price, if the home is not available for inspection before purchase, getting a mortgage can become quite difficult. Because lenders rarely pay for upgrades, like a new homebuilder would, any extras would be paid for almost exclusively by the buyer. Sometimes lenders will refuse to pay for standard seller closing costs such as transfer taxes, too.
  • Lengthy Process. Negotiation to buy a short sale home from the bank can take several months with no guarantee of approval on an offer. Given this indefinite process, successfully closing escrow on a tight timeline is very difficult.
Marie heiberg
Connie Esparza, CDPE, CIAS, CFAC
Re/Max Affiliates REALTOR

"I love taking my clients to Lennar. They have fabulous floorplans, customer service and great prices. I was so impressed I actually bought one myself a few years ago!"
CHAT NOW - Speak to an internet New Home Consultant today! - 800-50-9720
Close

Login

You are not logged in. Please login.

User Name
Password

* Required   
Forgot your password?
Get a reminder

Sign Up

Login or register below.

First Name:
Last Name:
Company:
Street:
City:
State: 
country:
Province/Region: 
Zip / Postal Code:
Phone:
Email:
User Name:
Password:
Confirm Password:

               * Required   

By providing your email and telephone number, you hereby consent to receiving telephonic and email communications, including advertisements, made or sent by or on behalf of Lennar Family of Builders and/or its affiliates.