Re-posting this entry by Tracy Lee Parker about Short Sale pricing because it is brief, to the point, well stated and needs to be heard by sellers, buyers and agents alike.  

Thanks Tracy for helping to clarify the nature of this process.

Via Tracy Lee Parker, Broker (RE/MAX by The Lakes ):

Why should I pay OVER asking price ?  

I have a client that put an offer in on a short sale. The seller signed the offer of course and now the bank is countering with my client, the buyer! She does not understand why the bank is wanting more than asking price!!  

I explained to her that agents list the short sales less than market value to attract a buyer quickly. Then, the bank sends out a broker to give the "opinion of value" and if that value is more than the sales price, then the bank will counter with the buyer higher than the sales price. The banks have a certain net to meet and the agents don't know this net until the "opinion of value" is done.

 

 

It is very confusing to the buyers this "short sale" business. It is hard to explain that these list prices are just a number to get buyers to make offers. It would be easier if there was a rule that explained how to price a short sale.  Agents should stay a little closer to market value when pricing your short sales and save us all extra work!

 

Compliments of

~Russell & Tracy Lee Parker~

~RE/MAX By The Lakes~ 

 

     (972)365-7198 Tracy Lee

(214) 477-5609 Russell

 

Lake Lavon & Lake Ray Hubbard Waterfront and Waterviews

Serving

Wylie, Rockwall, Sachse, Rowlett &  All of North Texas  

~ residential sales, short sales, land purchases, commercial ,foreclosures, property management and leasing ~

relocating? we can help !

Let someone local manage your property!

 

Franklin TN, Brentwood TN and Nashville Tennessee Real Estate

 
Keller Williams Realty
 
  






Keller Williams Realty - Franklin
9175 Carothers Pkwy, Ste 110 | Franklin, TN 37067 | 615-778-1818
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The opinions expressed by The Activerain Network and it's members and those providing comments are theirs alone, and do not reflect the opinions of Rodney Kennedy, Mike Nastri or Keller Williams Realty - Franklin, TN which is independently owned and operated. Neither Rodney Kennedy, Mike Nastri or Keller Williams Realty are responsible for the accuracy or content provided by The Community.
 

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