Deal or No Deal

The property sold in May 2005 for $865,000. It got a new kitchen since then and received other renovations. The owner must sell now. This is a short sale and the price shown is the price required by the seller to seal the deal. But if there are already two offers out there, how does some other potential buyer get a crack at it?

I have repeatedly suggested that active buyers have pre-approval letters from lenders so they can make the equivalent to an all cash offer. Second, offer to close as soon as possible after the lender approves the short sale. Third, limit the contingencies you as a buyer would require (but still require a home owners inspection, survey, and clear title). In this instance you might want to increase the offering price to ace out the competition. That's what I'd do.

The property sold in May 2005 for $865,000. It got a new kitchen since then and received other renovations. The floors have be re-tiled, windows replaced, some of the French doors and exterior doors replace, new roof, and master bath updated. The owner must sell now. The yard is shaggy and parts of the house look raggedy. That's part of the reason for this low price. This is a short sale and the price shown is the price required by the seller to seal the deal. But if there are already two offers out there, how does some other potential buyer get a crack at it?

EVEN MORE PHOTOS HERE.

This is how the listing Realtor describes the property: "*FINAL PRICE* $415,000 Deal or No Deal? What a pool!! Recently renovated with granite and stainless 3BR / 2BA Key West Home on large corner lot with pool. Great corner lot location, with lots of privacy, one block to the beach and a short walk to the Casa Marina. Motivated Seller! This is a potential short sale that may be subject to third party approval."

Interested in seeing this house, call me, Gary Thomas, 305-766-2642, or e-mail me at kw1101v@aol.com. This is not my listing, but I can get you inside the house anytime.