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You Let It Play Out...

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Real Estate Agent with RE/MAX Results MN#20344949 WI#93113-94

I have an offer on a short sale that is good enough to be accepted by the sellers and forwarded to the lender from that point.  We submitted at about 5pm yesterday and I spoke to the listing agent this morning about it.

Sounds like she will meet the sellers this weekend and they will hopefully sign off on it and we will then start our patient 3-4 months wait on average to a successful short sale close.

However, as I sit hear there is always that chance another offer comes in and bumps us from the house. So what do you do?

My answer: On short sales you let it play out!  My belief is that God or the Universe has your back (or my back at least) and whatever is highest and best for the buyer will work out.  If its meant to be nothing comes in and my buyers get the home.  If its not, then someone else gets it and you get something better.

This is NOT my theory and regular sales and bank owned sales in most situations.  I would want my buyer to have there best offer and I want want an answer ASAP!  Short sales are different because they take so darn long.

I have a buyer who closed on a house in the middle of June. That same buyer missed a short sale in March that they were seriously disappointed about.  So much so that they seemed to be thinking about giving up looking (or working with me because they did not get that short sale).

Well, right now that same short sale is still sitting on the market with that offer that beat us out waiting for the lender to approve it.  I think those buyers if they looked back on things would now see that God works all things for the good, and missing that house was a blessing. (Who knows if it will ever close).

So on short sales...you let it play out!

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Chuck Carstensen is a Realtor with RE/MAX Results in Elk River and Cambridge, MN.  Helping buyers, sellers and investors in great Minnesota counties like Sherburne, Isanti, Wright, Anoka, Chisago, Hennipen and Mille Lacs. He is a Certified Distressed Property Expert (CDPE).

Contact Chuck by emailing him at chuck.carstensen@results.net or by phone at 612-290-3809. 

 

Comments (1)

William Feela
WHISPERING PINES REALTY - North Branch, MN
Realtor, Whispering Pines Realty 651-674-5999 No.

Chuck, you need to wait and see what happens.  if the buyer can't do that, there is no reason to look at short sales.

Jul 20, 2012 02:50 AM