Profile picture for FLCelebration

1St time buyers, House listed at 78K and we offered 82.500K with giving back the 6% towards buyer c

  • February 28 2010 - Kissimmee
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Answers (7)

Profile picture for Mark LeMenager
In my experience the banks are totally bottom line oriented when it comes to distressed properties.  They look at the bottom line of what they clear and little else.  This is really clear when an agent has to use the automated systems like BidSelect.  I'm guessing that you are just getting out bid on attractive properties.  If it's a nice place in this area and the bank puts a price of less than $100,000 on it, then it's going to sell for more than asking (or in terms of your question, they'll clear more than asking).

Hang in there, you'll get one.  Click on my picture if you'd like local help.  I lived in Celebration for 3 years and am just donw the road in Harmony now.
  • March 01 2010
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Profile picture for Ofe Polack
For first time buyers to try to "solo" on short sales is suicide.  Try to work with a seasoned short-sale buyer agent.  At this price range the sale will probably go to a cash buyer without any contingencies.  You do not specify whether you were a cash buyer, or whether you were having home inspection.  The best offers are ususally cash without any contingencies and of course as close to asking price as possible or even higher depending on the market.
  • February 28 2010
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Homes in that price range are selling quickly and often for above the asking price.  You may just be outbid.  Talk to your agent and see if you can get more information on what is going on.
  • February 28 2010
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Profile picture for wetdawgs
Are you making offers on short sales or foreclosures?   If so, the request for 6% buyer concessions may be killing your offers.      SSs and foreclosures tend to go to those who offer cash, and the more contingencies in the agreement the more likely you'll lose the bid.



  • February 28 2010
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Profile picture for FLCelebration
What are we doing wrong? The banks are reviewing our bids and just selling the houses to someone else. Do you think is there a problem with asking them to pay for the closing costs? We are returning the closing costs paid within our bid, or the bid is 8% higher than the selling price, so they can recover the closing. I think am am so anxious that I can not explain myself anymore. LOL
  • February 28 2010
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Profile picture for Mark LeMenager
FLC,  slow down, take a deep breath, and then write out your concerns slowly and clearly.  We'll be glad to help.
  • February 28 2010
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Profile picture for Ofe Polack
And what is it that you would like to know?
  • February 28 2010
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