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Answers (8)
Best Answer
- Barry Wolf, "barrywolf"
- Contributions:62
To answer your question...Short sales and foreclosures are hard to weed out from your searches using sites like Zillow and Trulia. Since you are Castle Rock, your best bet is to use RECOLORADO.COM (this is also free). Near the STATUS: ACTIVE you should see the notification if it is a FORECLOSURE or SHORT SALE. Good luck in your searches.
- Wes Black
- Contributions:509
I respect your opinion to not look at short sakes. Extra time and patience are needed when you go down that road. For some people though, it is their best opportunity to gain home ownership.
- sunnyview
- Contributions:24167
Many of the local MLS systems will identify and let you screen out short sales, REO's or houses with pending offers.
I do not know where you are looking for property, but you can look for your local MLS online directly since many will tell you what type of sale it is. The one in my area will allow you to edit out SS and REO's. You can also use an agent site to search online.
I do not know where you are looking for property, but you can look for your local MLS online directly since many will tell you what type of sale it is. The one in my area will allow you to edit out SS and REO's. You can also use an agent site to search online.
- Alisa Hagner, "AlisaDenver"
- Contributions:372
You can close an approved short sale in 30 days.
As far as the buyer pays, or the seller pays the commission, last I looked the seller got what is leftover, and the buyer got the whole house.
Appraisers look at the price other buyers were willing to pay, regardless of commissions paid $500 or 7%.
If the buyer doesn't wish to use a local buyers agent, it is not against the rules. He can spend more time researching properties and chasing listing brokers, than other buyers. After a few properties lost to well qualified and represented buyers, he may change his mind.
As far as the buyer pays, or the seller pays the commission, last I looked the seller got what is leftover, and the buyer got the whole house.
Appraisers look at the price other buyers were willing to pay, regardless of commissions paid $500 or 7%.
If the buyer doesn't wish to use a local buyers agent, it is not against the rules. He can spend more time researching properties and chasing listing brokers, than other buyers. After a few properties lost to well qualified and represented buyers, he may change his mind.
- Tommy Lorden, "Commission Splitter"
- Contributions:53
Agreed, an explicit identification of a short sale in the MLS is the best/easiest way to find, but do note a couple things:
1. Sometimes something isn't listed as a short sale...but it may ultimately be one. In other words, maybe they are asking for more than they owe (and hope to get that), but maybe the reality is that it will trade for less than they owe (pushing it into short sale territory). If you want do some educating guessing on how the Seller/property is positioned, you could check public county records to see how much debt has been filed against the property.
2. I respectfully disagree, in part, with the previous post saying that buyer's agents are free. Yes, their commission is deducted from the seller's proceeds, but it's all your money as a buyer, and every seller considers the commission due when deciding what offer price to accept. So, don't be afraid to negotiate your buy side commission...it has an impact on your bottom line.
Good luck!
1. Sometimes something isn't listed as a short sale...but it may ultimately be one. In other words, maybe they are asking for more than they owe (and hope to get that), but maybe the reality is that it will trade for less than they owe (pushing it into short sale territory). If you want do some educating guessing on how the Seller/property is positioned, you could check public county records to see how much debt has been filed against the property.
2. I respectfully disagree, in part, with the previous post saying that buyer's agents are free. Yes, their commission is deducted from the seller's proceeds, but it's all your money as a buyer, and every seller considers the commission due when deciding what offer price to accept. So, don't be afraid to negotiate your buy side commission...it has an impact on your bottom line.
Good luck!
- Jim Garcia, "jimgar99"
- Contributions:10
On the Denver MLS, the Field name is "Approval Conditions" if it states "Short Sale" in that field, it is a short sale.
- Brian Teyssier, "Brian Teyssier GRI"
- Contributions:844
Thanks for posting your question here on Zillow!
I am in PA and on our MLS there is a place that states whether or not it is a short sale or foreclosure.
Oh, and a buyer's agent....is free to the buyer, seller pays commission.
Good luck!
I am in PA and on our MLS there is a place that states whether or not it is a short sale or foreclosure.
Oh, and a buyer's agent....is free to the buyer, seller pays commission.
Good luck!
- Steve Withrow, "SteveMDDCVA"
- Contributions:22
It all depends on the MLS in your area. Our MLS identifies properties that are short sales and properties that are foreclosures. I can only think of one website here though that passes that information on to the consumer and thats Redfin.com. If Redfin is not in your area, you'd have to have an agent tell you what is a short sale and what is not.
Its kind of a sensitive fact about a property which is why its closely guarded.
Its kind of a sensitive fact about a property which is why its closely guarded.
Can I tell if a house for sale is a Short Sale?
Oh, and please, don't suggest I get a Buyer's Agent - I'm wanting to do this using zillow, or some other freely available online source. Thanks!
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