Your name saw this post on The ActiveRain Real Estate Network and thought it might be of interest to you. Please see the link below to review the post.

Do You Have Time To Waste? Then Send In That Low Short Sale Offer!

 
 
Do you think you’re  sneaky?  Sending in a purposefully low offer to the short sale lender?  You just want to find out "what” price they want so you can get a "real” offer later, right?
Most short sale lenders don’t authorize a list price in advance.  This presents a quandary to the short sale listing agent.  Instead of watching the market and keeping an eye toward what the lender might approve, they send in a low-ball offer.  One that will likely NOT be approved.  This method may even be encouraged by the seller to find out what the bank really wants.
Let’s say the home is worth $350,000, but the buyer offered $250,000.  "Send it in! Let the bank decide! Then at least we’ll have a value!” is the common mantra. Why is this a problem?
Your short sale seller probably has to take his home off the market while the lender processes the low offer.  At least that is required by my Emerald Coast Associaton of Realtors MLS.  Your seller is losing marketing time while the lender analyzes the offer you know won’t be accepted.  One month, two months, three months off the market?  All the ... more

__________________________________________________
Are you on The Rain? Grow Your Network!