Low Ball offers on Phoenix Short Sales

Real Estate Agent with CG Real Estate

Fantastic in sight on what not to do when considering writing an offer on a short sale.  My hat's off to Anna on a fantastic, well written blog. This applies everywhere, not just in Phoenix. We get these calls all the time here in Connecticut!

Original content by Anna Banana Kruchten Phoenix Broker AZ Broker BR030809000

Low Ball offers on Phoenix Short Sales

Buying a Phoenix short saleOk folks listen up, please stop calling agents and telling them you've as good as gold, have cash, can close in two weeks etc etc etc on short sales.  Just stop!   Short sales don't work this way - they really don't.  Some short sales can take 60 days others could drag out for a year. Really.  I'm not joking. As for you having cash, well that's fine but the bank is not going to take an offer for 50% less of what they think they should realize just for you - especially if the home has been on the market for a week or two. It's just not reality. Now if it's been months and months or longer you might have a chance - might. But it's doubtful - just saying.


Yesterday I got yet another call just like this and we had a real hard conversation that he didn't want to hear. The guy suggested to me - hey I'm your guy who can close deals, fast and with cash so call me.  No, I'm not going to call you back unless - UNLESS I knew the bank would even consider such a low offer.  I know pretty much what a bank will take on a short sale in our hot Phoenix market and it's not 50% off. And BTW I've got two other agents that will be writing on this very property you called on and they know what needs to happen in our short sale market.


I am sure this guy doesn't know how short sales  really work.  It was if he was reading off a script from some short sale investor seminar he had taken recently.  Is somebody teaching these folks how to buy short sales?  No.  In the past when ever we'd get the 'zero down' calls we knew for sure another seminar promoter had been in town. Since I don't read the paper I don't know who's advertising again. Somebody is making money on short sales and it's not the attendees but rather the promoters. Folks this is the oldest trick in the book.


If you are new to buying short sales the best move you could make is to call a broker or agent that understands how short sales really work and make an appointment.  Listen to what she/he tells you -carefully - if you want to be a succesful short sale bidder. The agent has most likely been working on short sales for the last 4 or 5 years and knows what they're doing. Really they do. Save everybody some time and  learn the short sale ropes in your area before making 'pie in the sky' verbal offers and proclamations of how you're good as gold. If you do you just might be the successful bidder on a short sale that would make an excellent investment. Now make that call to a good short sale agent and win the bid on that short sale.



Low Ball offers on Phoenix Short Sales 


 Real Estate and Working with my Clients is my Passion!



 I take my clients trust in me very seriously. I'm known for 'telling' it like it is, not what folks might want to hear or  think it should look like. Now that may sound kind of tough, but think about it, in the long run if you want to buy or sell a home you need to know the real facts in order to make a wise choice.


If you want the truth and the whole truth, I am the Phoenix Real Estate Broker for You.


When you are ready to buy or sell a Phoenix Area Home, I will be your advocate, guide, and fierce negotiator. I will work hard to make your buying or selling a home as smooth and stress-free as I possibly can - even if it's a short sale.  Guaranteed.


Call me and we'll create a plan of action to buy a home or sell your home! 




Anna 'Banana' Kruchten

Broker/Owner CRB, CRS, CDPE, GRI SFR


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Who To Call For Your Real Estate Needs In Connecticut:

Patrick James is a REALTOR that can assist you with all your real estate needs in Connecticut. Patrick resides in Middlesex County but also offers Real Estate Services in New London and Hartford counties, as well as portions of Windham, Tolland, Litchfield and New Haven Counties. Patrick  can be contacted via phone or text message at (860)550-5267 or pwjrealtor@gmail.com



Patrick W. James and CG Real Estate are not associated with the government, and our service is not approved by the government or your lender. Even if you accept this offer and use our service, your lender may not agree to change your loan. If you stop paying your mortgage, you could lose your home and damage your credit.

Comments (2)

Doug Rogers
Bayou Properties - Alexandria, LA
Your Alexandria Louisiana Agent

We get questions from these "investors" from time to time. My favorite are the ones that wish to "buy" the property, then flip it BEFORE the initial closing. This won't work on short sales for many reasons. None of which are covered in that 19.95 VHS tape.

Oct 09, 2012 10:47 PM
Anna Banana Kruchten Phoenix Broker
HomeSmart Real Estate - Phoenix, AZ

Patrick thanks for spreading the word - much appreciated.  Everyone will benefit by having the correct infomation for their market area(s).

Oct 10, 2012 10:59 AM