Special offer

Sicklerville | Camden County | NJ | Short Sales; Continued

By
Real Estate Agent with BMC Capital

Once your property is on the market and priced correctly, you should start recieving offers.  It is important to evaluate each offer and not just accept the first one that you receive.  In my experience short sales attract a lot of novice investors so some of these offers might be a little off the wall.  You may see lease-option offers, subject-to offers, offers with large seller concessions, or just plain low balls.  Most of the time these offers will not do you much good.  What you are looking for is a cash offer or one with financing already in place.  Without this the difficult task of negotiating with the bank becomes almost impossible.

If you are not familiar with these types of offers and the benefits and drawbacks of each, you should discuss them both with your real estate professional and with your legal counsel.  The danger of accepting just any offer is that your lender will not accept it or that after several months of negotiating, the buyer isn't able to perform.  Once you have found a buyer who has made an acceptable offer you are ready to start the negotiation process with your lender.  I'll discuss this in an upcoming post.

Joseph Cacciapaglia, MLERE
Realtor Associate®
R&I Realty
15 Potter Street
Haddonfield, NJ 08033
Office: 856.795.3111 x268
Cell: 979.218.2286
Jcacci1@gmail.com 

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