Are in the market for a home that is either in a short sale situation or is already owned by the bank? Don't think just because the home is in this type of situation that they can't be human and get the bank to give you the home over other offers.
When I negotiate for a buyer for a home that is either a short sale or a bank owned property, I have my buyers put in a letter telling the bank about themselves and why they really want the home.
You know what happens when I do this? The bank actually shows they care and even if our offer isn't the best, we've won out over investors. You see, sometimes the banks are not actually holding the note on the home they are just servicing the note for an investor. They'll send the offers to the investor and every once in awhile they show heart and let my buyers have the home.
Right now, I'm negotiating for a foster care home. I have found out that there are special grants for homes bought for this purpose and that the investor may get a special tax break for selling it to a foster care facility. My clients knew about this little law and wrote a letter to the bank and guess what, it looks like our offer has been accepted despite being over $100,000 less than what is owed the bank.
So, buyers don't forget your letter about you and your situation. Maybe, just maybe, it will get you that home that you thought was out of your price range for an amazing price. If you are in the market for a home in the Washington County area of Oregon, please don't hesitate to call me and I will help you find the best deal possible, be it a short sale, foreclosure, or just a home that has to be sold yesterday.
Todd Clark - broker
Kastings & Associates
Photo courtesy of andreyutzu