As a Short Sale Real Estate Agent in Sarasota, Florida we get several calls daily from buyers inquiring about our Short Sale listings in Sarasota. Recently, I received a call from a buyer on a Short Sale listing where the buyer expressed an interest in seeing our listing. She shared with me that she had a contract to buy a home down the street and was waiting on an approval for the Short Sale. I proceeded to ask her why she was interested in seeing our listing if she was buying another house. Her response was, "I only have $100.00 down as a deposit on that contract and will walk away from it if I find a better house." What I heard her say was, "I am working with an inexperienced Real Estate Agent down the street, who allowed their Seller (who is facing foreclosure) to take their home off the market for just $100 while I keep shopping with other Real Estate Agents to buy a home." The end of this story is we decided not to work with this buyer. The house down the street was held off the market several months before the buyer apparently decided to forfeit her $100.00, at which time the seller terminated their agreement with their Real Estate Broker and listed their property with our real estate company.
Too often, we receive offers on our short sale listings without a deposit. Sometimes the offers we receive are even noted that a deposit will be given after the bank approves the Short Sale. This is ridiculous! Of course, we always counter offers with the buyer having "Skin in the Game" and having a reasonable deposit to hold our listing off the market, while we attempt to get the buyer's offer approved by the seller's lender. Unfortunately, we often hear of the end of the story where the buyer and seller did not agree to this and also hear of the consequences of a seller's home being taken off the market for an extended period of time with little or no incentive for the buyer to follow through with the sale.
The Troy Funk Team with Keller Williams Realty in Sarasota, Florida specializes in Short Sales and has successfully closed over 100 bank-negotiated sales in the Sarasota and Manatee County, Florida market area in less than a year. For more information on their company, visit: www.TroyFunk.com
The Troy Funk Team's service area includes: Sarasota, Bradenton, Venice, Bird Key, Lido Key, Longboat Key, Anna Maria, Bradenton Beach, Oneco, Palmetto, Parrish, Ellenton, Lakewood Ranch, University Park, Nokomis, Osprey, Englewood, and North Port, FL.
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