Pre-Approved Short Sale Available in Westminter, Colorado.
We are looking for a buyer for our short sale at 9736 Meade Circle in Westminster, Colorado. The MLS number for this listing is: 89444. The buyer backed out while we were waiting to have the sale date set.
The 2061 square foot home has 4 bedrooms and 2 1/2 baths. The property sits on a spacious lot (.23 of an acre) located on a cul-de-sac, so the pie shaped lot gets wider as a you go into the back yard.
I am just wondering about 'pre-approved' short sale. What I learnt at some short sale course is that the lender will not approve the sale if there is no buyer's information. So..I'd appreciate an explanation. Thanks.
Hi Praful,
So we had a buyer that made an offer. The offer was presented to the sellers and in turn presented to the bank. The bank did their analysis of the offer and requested an additional $5,000 then what buyers initially offered. At that point, we knew what the bank was willing to approve for the sale of that property.
Even though the home is priced reasonably, even when you consider that the roof will need replacement, it did not suit the buyer and the buyer opted out of the deal after the inspection.
It's been our experience that if we are able to reproduce the terms of the original contract, even if we have a new buyer, the sale will move forward. That is what I mean that the short sale is pre-approved, if we're able to reproduce the term the deal will move forward.
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