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Some Short Sale Buyers Are Missing The Boat...so to speak :)
 
Some Short Sale Buyers Are Missing The Boat...so to speak :)

Lately, we've come across some short sale buyers that have miss-conceptions about this specific type of real estate transaction that differs from a traditional property purchase and would like to share these...
 
Short Sales are not Fire sales....the banks have a bottom line. Sometimes buyers have miss-conceptions that they can bid very,very low and ask for even more ( i.e. seller concessions) on a listing that is already priced less than what is owed on the note. This is not so.
Lenders wait around a long time for the best short sale offer to come in before they'll decide which one to choose. Not so nowadays. It has been our experience recently that the time frame for some of these transactions is decreasing and if one reasonable offer comes in, they accept it and proceed to close. 
.....one client insisted they had plenty of time to wait to write an offer ....just an hour later that very home was under contract with an excellent offer with hard to beat terms :0 
As a Buyer of a short sale you can wait to do your inspections or Appraisal until after the lender has approved the short sale... THERE IS RISK ... more

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