Golly gee whiz.....Short Sale Sellers are as motivated as the Bank will allow them to be ....we thought that both Realtors and the buying public had a better understanding of Short Sales...or perhaps it was...we were hoping they did. We tell agents and buyers that short sales are not "Let's make a deal"....they ARE the deal. Just as in "traditional real estate", prices are not plucked from thin air...Banks and Selllers don't have to take whatever number comes to mind...or the ever famous...just take off X %....with no rationalization other than "anyone will accept that discount."
The agent was surprised to learn that the Sellers could counter a price....he was from the "you have to present EVERY offer to the bank" school. No....we don't....Sellers counter unrealistic offers just as they would if the house was not a short sale.
Agents showing Short Sales....Our Sellers are very motivated. They want to be out from under a debt that is crushing them financially. They know that the bank has limits on pricing they will accept. They understand that presenting an offer to the bank that is too low only puts them closer to foreclosure if they would accept it and the bank....weeks later, rejects it.
Please explain this understanding to your buyers so they too will understand....an accepted offer is a wonderful thing....and a short sale approval ...a MORE wonderful thing...that is what we all want ...working together we can all have it.
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