Trying a Different Approach to Short Sales & Foreclosures

Yes I think this is also a great way to handle this. See if there is any defects from the start that a client cant cure. Great to see you!

You would have to do a lot of inspections in our market. Most of the lender owned foreclosures are attracting multiple contracts. Strong competition for well priced properties.

Hi Randall - As a buyers agent I am not sure that is the right approach as there is no gaurantee the short sale is going to be approved. It could be a buyers money down the drain. I am sure the sellers agent likes it as they don't have to worry about it after an approval is granted. I don't think it makes that much of a difference to the investor...they are more concerned about minimizing their loss.

Hi Randall, That's an interesting thought, but I think that it could end up costing my buyers wasted money. We're seeing lots of multiple offers on short sales and foreclosures.  My buyer last month submitted 11 offers on different homes before getting one accepted. The banks I'm dealing with on my listing short sales don't seem to care about an inspection contingency. Actually, they don't seem to care much about anything. :) Glad to see you're back!

Randall, your idea is very creative and I imagine in certain markets it may work.  Have you had much success with that tactic?