By "crazy" I mean contingencies. By now all Realtors here in Saint Petersburg should know how to make an offer on a short sale and they should share that information with their buyers before they even go out and look at property. Here is a list of NOT to do

Do not make the offer on a short sale that is

Contingent upon Sale of buyer's house.

Contingent upon seller paying maintenance fee for a year in advance.

Contingent upon, wife viewing the short sale property in a month from now.

Contingent upon seller paying $6000 towards buyers closing costs.

Contingent upon seller putting a new roof on the house.

And on goes the list.

The only two contingencies I have ever seen a bank accept is  Financing and home inspection.

Buyers have to understand the nature of a short sale. In short, seller has no money to do repairs or pay for anything else, bank does not want to deal with anything other than closing the short sale. My tip to buyers is, make your offer as simple, and clean as you can. Make an AS IS offer on a short sale and leave yourself a way out with the home inspection. A short sale is not your traditional sale process, it is very different. Ask your Short Sale and pre foreclosure Realtor here in Saint Petersburg Pinellas County, educate yourself before you make an offer and eventually loose the property.

 short sale expert

If you think about buying or selling a house or condo in Saint Petersburg Florida, give me a call. I know the market, I know the neighborhood. Ask me about waterfront homes or condos in St. Pete beach. Treasure Island, Madeira beach, Seminole and other Tampabay areas.    727 409 8706

 

 

 

3 Comments on Don't make crazy offers on a short sale

NOV
16
2008
252,290 Points 4 Featured Posts

All great tips Anne....I think they also apply to sales that aren't short!

6:49am • #1
210,006 Points 3 Featured Posts Localism Sponsor Outside Blog Hit Router

Craig,I guess you are right, Here in our Saint Petersburg Florida area we find that "regular" sales are a little more forgiving and seller counter a few times. But in general, the stronger your offer the better chance you have.

 

 

7:59am • #2
137,051 Points 1 Featured Post Outside Blog

Hi Anne,

We inform buyers looking at Short Sales to have financing in place, preferably at a bank other then the one holding the mortgage. No contingencies of any kind, other then inspection, their out, and final financing approval. We alse inquire if they are redy to make an offer today if the house meets their needs. Beyond that, it is just wasted time to show them a short sale listing.

11:26am • #3

Leave a response…



(optional)
What does the graphic say?
 
Rainmaker_large

Anne Hensel Real Estate Broker St. Petersburg houses and condo for sale

Saint Petersburg, FL

More about me…

Anne Hensel Real Estate Professional buy or sell St. Pete

Address: Madeira beach, Fl, 33708

Office Phone: (727) 399-9990

Cell Phone: (727) 409-8706

Email Me

Real Estate for sale in Pinellas County Florida. St Petersburg and Tampabay, listing or selling properties. FSBO tips and information. Treasure Island and Madeira beach homes and condos for sale.


Links

Archives

RSS 2.0 Feed for this blog