Short Sales:Is this a reasonable offer from a buyer of a short sale property?

By
Real Estate Agent with RE/MAX Action
IL – Some buyers think that since it is a buyer's market, then they can make any crazy demand of a seller. And they can't understand when the seller isn't excited by their lowball offer. Here is an example of a recent story where this happened. A buyer makes an offer on a short sale. Discover how other sellers successfully did a short sale to avoid foreclosure by clicking here. 1. The buyer puts no money in deposit for the home. In other words, they have about zero risk. (Meanwhile, the seller is still risking foreclosure.) 2. They are putting $150,000 down on the property, but won't bother putting any more than $1,000 in escrow and only after the short sale is approved. 3. They are only allowing 30 days for short sale approval. (News flash: Most short sales take an absolute minimum of 60 days to be approved.) 4. They are demanding the seller take the property off the market and not accept backup offers. Is this a little one sided or what? If you are a short sale seller, then they agent representing you should ask for a better offer. You need the buyer to have a little skin in the game. If not, then you dramatically reduce the odds of successfully short selling your property. Thinking about a short sale? I can help you short sale your property and never pay the bank another penny. Send me an e-mail at dtoomey@remax.net. I will contact you for a free consultation. When we talk, I will explain how the process works in detail and answer any questions you may have. Or, if you prefer, you can call me at (847) 338-0180 Discover how other sellers successfully completed a short sale and request a free consultation by clicking here. Thinking about a loan modification? Our loan modification kit has the instructions you will need to get a loan modification approved with your bank. Click here to request a copy. Thanks for reading this, Dennis Toomey. Dennis is a Real Estate Broker at RE/MAX Action. Short Sales Realtor: Phone: (847) 338-0180. dtoomey@remax.net. For Real Estate that's hassle free, just pick up the phone and leave it TOoMEy! View My homes for sale at www.HouseByZip.com. Dennis Toomey specializes in loan modification assistance and short sales in Elgin Illinois. Elgin Loan Modification Help, Elgin Short Sales. Elgin Short Sale Realtor IL Short Sales. Realtor. Copyright 2010 SFI Marketing Institute, LLC. All Rights Reserved. This is not intended as legal, technical, or tax advice. Please speak with a licensed professional before making any decision. Information is deemed reliable but not guaranteed as of the date of writing. The views expressed here are Dennis Toomey's personal views and do not reflect the views of RE/MAX Action. This information on Short Sales:Is this a reasonable offer from a buyer of a short sale property? is provided as a courtesy to our viewers to help them make informed decisions.
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Rainmaker
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Pat Champion
Coldwell Banker Camelot Realty - Mount Dora, FL
Call the "CHAMPION" for all your real estate needs

Doing short sales are difficult for both buyers and sellers they need to negotiate and come up with an offer in which they both can agree with the short sale.

Feb 17, 2011 08:19 AM #1
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Rainmaker
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Dennis Toomey

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