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Conversations at an open house!

By
Real Estate Agent with Essential Properties, Inc.

It seems that today people have "Short Sale" on the mind!  No matter what, today people keep bringing up Short Sales....and what they are saying is that they are so mad about what they perceive to be very deceptive advertising...that homes are on the market at a certain price with no disclosures that the home needs bank approval for the deal to go through...not good.   It just seems that the buyers are confused and I think a lot of agents aren't helping the situation.  Just some thoughts on the convesation of the day.  

 What is interesting is that the home I am sitting is priced at an energy number and everyone is asking if it's a short sale or REO. It's also in great shape...It is not Short Sale or REO, so I have been really making potiential buyers aware of that fact!

 I think the buyer pool appreciates that the distinction is made...(the home is vacant so it would be very natural to assume...especially since it is priced so agressively), Once I tell people that they really start engaging with the home and I get, wow, they really took great care of this little home, what a nice house, etc...very interesting!

 Happy Selling Today!

Comments(2)

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Jason Grams
none - Roseville, CA

It really aggrevates me when I see a good price on MLS and find out after making a call that it needs bank approval for a short sale.  When I list a short sale, I put in BOLD LETTERS "ALL OFFERS SUBJECT TO LENDER'S APPROVAL OF A SHORT SALE, LENDER HAS NOT APPROVED LISTING PRICE."

After we finallly have the lender's approval, I will change it to "LENDER HAS APPROVED SHORT SALE AT THIS PRICE, ALL OFFERS SUBJECT TO FINAL APPROVAL OF SHORT SALE".

This way potential buyers know up front the asking price may or may not ever be approved.

Feb 16, 2008 06:59 AM
Bill Gillhespy
16 Sunview Blvd - Fort Myers Beach, FL
Fort Myers Beach Realtor, Fort Myers Beach Agent - Homes & Condos
Hi Craig,  Our MLS now has a field to indicate a " Short Sale " .
Feb 16, 2008 07:03 AM