Buyers Scared of Short Sales?

By
Services for Real Estate Pros with Short Sale Resolution Network

Are you thinking of buying a home?  Have you noticed that 1 of every 2 homes if not more are Short Sales? It can get kind of frustrating when nearly every home listed is a foreclosure or in default.  The biggest complaint I hear is about the bidding wars.   There are tons of stories of how buyers place offers on properties and never hear ANYTHING back! Rule of thumb, if you have not heard anything, you did not get the property! 

Best way to get the home you want, "Common Sense"!  Say the property you want is listed at $535,000 and the homes in the area are selling for $640,000, do you really think the house is going to sell at $535,000?  I guess the best tip I can give you is to work with an agents that has successfully secured a property on a short sale for several clients. An agent who will run comparable sales in the area and place the offer where it needs to be for you to be the winning bid. Short Salesalong with REO properties are the best deals, but you have to know what you are looking for and what you are willing to pay for it.  Being scared to get into a short sale may be valid, but if you are working with an agent who understands the short sale process there should be no problems. Make sure your agent knows how to work with the listing agent to push the process through.  If the listing agent has not even qualified the sellers then you want to run from that particular property

We answer questions constantly about short sales and referals. click here  Our network has licensed real estate agents from all different real estate franchises who are educated in the short sale process. We help agents by processing the paperwork which is necessary to close short sales while the agents list properties and help buyers! We can be contacted at Short Sale Resolution Network, 866-844-6873

 

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Ambassador
841,533
Charlie Ragonesi
AllMountainRealty.com - Big Canoe, GA
Homes - Big Canoe, Jasper, North Georgia Pros

I am a Realtor and depending on who holds the mortgage I am scared of doing short sales . So I do not hold this against a buyer

Sep 20, 2009 09:22 AM #1
Rainmaker
81,016
April Solomon
Keller Williams Professionals - Swannanoa, NC
Broker/Realtor/GRI

I have handled many short sales and find it very difficult to work with more than one mortgage holder on a home one is bad enough. If evey state follows the lead Of California and the banks had to give an answer within one week we would have a lot more of the short sales moved off the market and sold.

Sep 20, 2009 09:29 AM #2
Rainmaker
223,539
Brian Brumpton
Keller Williams Boise - Boise, ID
Boise Idaho Real Estate

Sharon,

I primarily handle the listing side in short sales and the thing I see time and again is buyers walking a week or two early.  They miss out on great deals by being impatient and the second one in snatches up the deal the first buyers waited months to get.

Sep 20, 2009 09:37 AM #3
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Rainer
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Sharon Butler

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