Hi Gretchen (Name Changed),

Sorry about getting back to you so late in the evening.

Gretchen wrote to me the following:

> If we do make a bid it will be less than $290K. The offer would be
> preapproved, backed by cash, and with inspection waived. Which make it
> strong, however, If you don't think that is worth submitting due to
> being below recent comps, let me know. I do not want to waste anyones
> time.

There are 3 particular items that makes an offer STRONG in a Short Sale.

1) Price,

2) No Contingencies, and

3) Price.

There are 3 particular items that makes a Lender want to accept a Short Sale Offer.

1) How much money will be netted on a Short Sale, versus how much money will be netted on a Foreclosure,

2) How STRONG is the Short Sale Offer, and

3)  How much money will be netted on a Short Sale, versus how much money will be netted on a Foreclosure.

You have Item #2, No Contingencies!

The other 2 Items, have to be addressed...Price and Price.

This is NOT a new property. This is a property in a fantastic area! The Builder has just sold a 3 story, larger unit, for a very small price (I showed you a recent Palm Beach County Property Appraisal Office Public Access System's run of all sales in the subdivision.)

In Florida, there is no Legal Requirement, by anybody, including Licensed Appraisers, Real Estate Agents, BUILDERS, Homeowners, Public/Government Servants, Experts that perform BPO's, et al., to show Seller's Concessions or Subsidies. I really am not for this practice because how can the PUBLIC, the BANKS, the LENDERS, People from out-of-town, etc., tell what the MARKET VALUE of a property IS (It all depends on what the definition of IS IS!)

Please make an Offer. Make it your BEST OFFER. And, expect a long passage of time before you get an answer back from the Lender. Don't count on your offer being accepted. Somebody else may put in a Stronger Offer!

In a Short Sale situation, nobody knows or can predict, what a Lender will accept. The Lender is the one that will make the decision on which offer Best Suits THEM.

Steven P. Wood, Realtor
Short Sale Specialist with the Short Sale Division of
Palm Coast Realty, Inc.
Palm Beach Gardens, Florida 33410
 
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