It's the same thing every day.
Client sees short sale. Client wants short sale because the price is unbelievable. Client makes offer on short sale. Client never gets an answer, only to find the home has been sold months later.
Heartbreaking for them.
It is my duty as a buyer agent to tell people the reality of the short sale. As much hype as a listing creates, as low as they want to set the price, the fact is that a bank, at this stage of the game, is NOT going to give the house away. And the great SHORT SALE SECRET - most often, the bank is NOT involved in setting list price.
Short sale pricing is NOT the same as traditional list pricing. Clients who treat it as such will rarely get the property.
If the goal is to get the home at a great price, talk to a buyer agent, do the research and make an aggressive offer, but one within the realm of reality. Unless the listing specifically states the list price is bank-approved, we can largely disregard the list price.
That's correct. Short sale list prices are NOT the same as traditional list prices. And the bank will NOT give the home away. They will do an appraisal. They will listen to and consider aggressive offers. They will not answer a ridiculous offer. They know what the home is worth.
In order to try to get an offer, the listing agent may drop the price of the home...again...and again. But the bank is still owed the same amount. The further apart those two numbers are, the less likely that a client offering 30% off list price will ever hear a word.
There are better ways to do this. Want a great deal?? Contact a knowledgeable buyer agent and you'll get it. But dont always believe the hype.
True Real Estate are Exclusive Sarasota Buyer Agents dedicated to getting our customers the BEST DEALS. www.TrueSarasota.com
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