How Do We Price Short Sale Offers?

By
Real Estate Agent with Remax Central Properties

No, it’s not simply guesswork.

 

Short sale agents follow a definite process in pricing offers. We normally conduct a comparative market analysis, the same method that’s used in traditional transactions.

 

Here’s how our team does it. First, we research on market values of homes that were recently sold in your neighborhood—particularly on those with similar features to your property. We take its value and use it as basis in determining the price of our offer.

 

When putting your Long Island home up for short sale, I encourage you to educate yourself as much as possible. Many will take advantage of your situation and make a lowball offer for the investment you worked so hard for.


Be informed. Read this article I wrote on pricing short sale properties: http://realtytimes.com/advicefromtheexpert/item/1023334-how-are-short-sale-properties-priced?rtmpage=reneperrin

Comments (3)

Dorte Engel
RE/MAX Leading Edge - Bowie, MD
ABC - Annapolis, Bowie, Crofton & rest of Maryland

Dear Rene,

Our short sales are going by the wayside, since prices are close to where they were when the market started tanking. Now some banks want very utopian prices for clearly distressed homes.

Jan 06, 2019 08:23 PM
William Feela
WHISPERING PINES REALTY - North Branch, MN
Realtor, Whispering Pines Realty 651-674-5999 No.

There is not difference in pricing.  No reason for there to be a difference.

Jan 06, 2019 08:23 PM
Richard Weeks
Dallas, TX
REALTOR®, Broker

Great information, thanks for sharing.  I hope 2019 is a great year for you.

Jan 07, 2019 04:35 AM