To Search Destin and Santa Rosa Beach, FL Short Sales and Foreclosures Click Here.
I just found another Destin, FL Real Estate buyer a great deal on a short sale, and here is how I did it. Just recently, a fantastic short sale was placed on the market. The property was in a hot neighborhood and in an great condition. Sounds great, right. Wait a second, there are some major set backs. The home is overpriced, there are not many photos on the MLS, and it is tenant occupied. So what did I do? I was persistent and gained access to the property, and man was it PERFECT! I took about 20 digital photos with my new Lumix wide angle lens camera and forwarded them to my buyer. We did not have to worry about multiple offers because the property was priced too high, under marketed, and hard to show.
I have written a few blogs that describe all of these hurdles, but the trick is to turn these hurdles into opportunities. If you have buyers looking for really good deals, these irritating little issues can become major opportunities. When I come across these types of issues, I get very excited. I call my buyers to see if they would like me to check it out and take some photos.
Most of my buyers are not comfortable with multiple offer situations and I prefer to avoid them if at all possible. The low priced properties that are well marketed and easy to access can be very hard to purchase. Can you say bidding war? You will find this to be the case with most of your REO "Bank Owned" properties. This is why I love short sales, especially if they are over priced, under marketed and very hard to show.
Below is a list of opportunities that I search for.
1. Over priced short sale listings - Most folks do not understand that the list price for a short sale is completely irrelevant. Many list prices are too high or in some cases too low. You really have to utilize recent comps and a CMA "Comparative Market Analysis". Make this the basis of your offer, it works like magic. Check out my blog titled. I LOVE OVERPRICED SHORT SALES.
2. Very few or no photos. This really helps me because the seller has just alienated a major portion of the market, INTERNET BUYERS. This gives me plenty of time to locate a buyer and present an offer because no one can see how great the property really is. Most agents won't go over there to take photos. If I have an interested buyer, I will be happy to stop by and take about 20 photos. Check out my blog titled, PLEASE TAKE SOME PHOTOS.
3. Difficult tenants. Many times, the tenants are upset because they know it is listed as a short sale and they are not happy about the situation. Many of them think it is wrong that the seller is not paying the bank or in some cases the HOA, while collecting their rent. The tenants are normally not too motivated to show the property and you would not believe what they will say to a potential buyer or buyer's agent. Many tenants are not motivated because, you guessed it, they do not want to move.
I understand that sometimes there is just no choice but to list your home on MLS without photos and stuff happens, but when you think out side of the box and understand that these common issues are actually opportunities for the buyer's agent, you will have great success. This is one way that I find incredible deals for my clients. Try to take this approach and you will be pleasantly surprised.
To Search Destin and Santa Rosa Beach, FL Short Sales and Foreclosures Click Here.
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