Short Sale Multiple Offers

As news of the housing market recovery spreads, so do Short Sales in Arizonathe multiple offers on short sales. Once considered to be a last resort as a purchase, short sales are becoming more and more attractive.  Why?  Because short sales still hold that stigma for some buyers agents, so there are fewer offers than foreclosures and traditional sales.

Another reason may be that while you’re waiting for bank approval on a short sale, prices may be rising in that area.  Some banks are catching wind of this and ordering new BPO’s if the existing one is older than 30 days.  But for the most part, we’re seeing more offers on short sales than ever before.  

Are you seeing this in your area?

My short sale listings now include the following:

The timeframe to receive offers will be __ days and will be displayed as such on the MLS in the private remarks section.                                                   Lockbox

The lockbox will be removed after that time period if the property is occupied.

The buyer MUST be pre-qualified with a lender and have submitted all the pertinent financial data.

Provide a complete contract with the required title information as written in the MLS.

The contract needs to be letter perfect to avoid delays and missed opportunities.

A conversation with a listing agent today, I represent the buyer, included the fact that he would prefer to work with me because my contract was accurate; he liked the fact that I had the designations for short sales, and he reviewed my websites and was impressed.  That’s a new one.  

It never hurts in this environment to be well-respected for what you do by other agents.  So when dealing with multiple offers, be first, be accurate, and quick to respond!


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RE/MAX Excalibur Realty                         Green Realor, Scottsdale, AZ

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6 Comments on Short Sale Multiple Offers

JUL
21
612,922 Points 40 Featured Posts Outside Blog Called Shot Master

Jan, let's hope our improving market will help many more people NOT be in a short sale situation.  On one home we put a contract in for yesterday, we could tell they were just at that break even point based on public records and commissions and closing costs and such, but at least, the home sellers can move on.  
7:14pm • #1
270,332 Points 13 Featured Posts Outside Blog Called Shot Master

Yes, the improving market part we all wish for.  I'm sure there will be even more that are at the break even point as prices rise.  It's been great to watch!  Thanks for commenting and have a great night!
8:22pm • #2
JUL
22
779,746 Points 97 Featured Posts Outside Blog Called Shot Master

I think that someone considering purchasing a short sale in Scotsdale needs to contact an expert like yourself Jan.
1:10am • #3
270,332 Points 13 Featured Posts Outside Blog Called Shot Master

Thanks Tom.  It is very helpful to the consumer to deal with someone who understands short sales and can manage expectations.  They rely on us for that.  Thanks for commenting and have a great Sunday!
9:38am • #4
JUL
23
607,204 Points 46 Featured Posts Outside Blog Attended Rain Camp Called Shot Master

 

fairfax county real estate agents Jan and Steve Bachman

 

 

 

Jan, inventory is so low here that short sales are going fast with multiple offers.

A few minutes agoo, I was calling to schedule a showing tomorrow for a buyer and the house is under contract...just went this morning after 4 days on market. :-(
11:55am • #5
270,332 Points 13 Featured Posts Outside Blog Called Shot Master

Steve - I know what you mean. Being first isn't always easy.  I check the hot sheets every morning and sometimes that isn't enough!
2:52pm • #6


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Jan Green, RE/MAX Excalibur,602-620-2699 , Scottsdale, AZ, EcoBroker CDPE SFR

Scottsdale, AZ

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Scottsdale, Phoenix, Cave Creek, Carefree, Fountain Hills

Address: 21803 N. Scottsdale Rd. Ste 100, Scottsdale, Fountain Hill, North Scottsdale, Phoenix, North Phoenix, Cave creek, Carefree, Scottsdale, AZ, 85255

Office Phone: (602) 620-2699

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Certified EcoBroker, Phoenix Green Chamber of Commerce, Chair the Builder Committee for the United States Green Building Council (USGBC), Arizona Chapter, Residential Green Building Committee, Energy Efficient Homes, REALTOR® for 10 years,RE/MAX, buyers and sellers, Scottsdale, Phoenix, Cave Creek, Carefree, Tempe, Arizona, home buyers and home sellers, Green Realtor, Networking group, Pinnacle One Group, relocation, relocating to Scottsdale, Green Certified Homes. http://www.linkedin.com/in/gotgreen Locations of visitors to this page


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