Step #5 of The 5 Steps to Listing a Successful Short Sale

Step #5 of The 5 Steps to Listing a Successful Short Sale

Step 5: Short Sale Pricing Strategy

Pricing a short sale, including the subsequent pricing reductions, is the most important factor in getting a contract and having your short sale approved. The reality is, the short sale probably needs to be the lowest comparable property in the neighborhood in order for a buyer and buyer’s agent to cooperate. Additionally, in the case of a short sale, the buyer’s agent needs to be enticed to not only show the property, but to cooperate with the process.

There are several crucial factors you need to consider to price the property correctly, including:

Fair market value

Time left before foreclosure or pre-foreclosure

Days on Market

Property Condition

Amount Owed on the Property