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Answers (10)
- Cindy LaPeer ABR, e-PRO,SFR, Cdrs, "Houston Metro Pro"
- Contributions:2239
There are websites such as RealtyTrac.com that will give you lists of pre-foreclosures (short sales) but most often a buyer must go through a Realtor to buy one. I've never known an individual except investors who were able to go straight to the bank to negotiate a short sale. Unfortunately, it isn't that simple. It would make our lives (Realtors, sellers, and buyers) a whole lot easier if it was!
- Debby Boiros, ABR,CDRS, "debbyboiros"
- Contributions:106
There are several ways to find a short sale. The most obvious is to contact a REALTOR. another way is to access websites (must pay $$) to see where in the "short sale process" the home is. It can be pre-foreclosure, or notice of default, etc.. These can be found in the newspaper or at the Registry of Deeds.
Please be advised that this process can be taxing on the buyer. It can involve months of waiting for the lender to accept the short sale.
The easiest way is to contact a Realtor who will do the legwork for you. A buyer agent in Massachusetts may not charge you since most times the commission will come from the sale of the property.
If you need more help, feel free to contact me.
Please be advised that this process can be taxing on the buyer. It can involve months of waiting for the lender to accept the short sale.
The easiest way is to contact a Realtor who will do the legwork for you. A buyer agent in Massachusetts may not charge you since most times the commission will come from the sale of the property.
If you need more help, feel free to contact me.
- JGib10
- Contributions:2
Using a buying broker is an obvious option, but what other resources are available? In other words, can a potential buyer find "short sales" through banks only? Through online listings?
- Linda Strasberg, "L Strasberg"
- Contributions:2314
AZROB question if the "bank owned" homes are selling for 70% less than what was owed...why would a bank accept 70% less than fair market value on a short sale when an investor is buying it? They would have to agree to sell it for free...I don't believe they'd be that foolish to accept such a low ball offer...and quite frankly I can locate buyers for a great deal on a short sale without her and get the bank a fair price.
Linda, the fact that you write that ridiculous scenario and then say "you need time to consider..." gives me serious misgivings about your understanding of real estate reality.
- Linda Strasberg, "L Strasberg"
- Contributions:2314
I can't figure out exactly why you want this information...I did recently receive a telephone call...they wanted to find short sales available in my market so that their investor could buy them from the bank at 70% below market value and then have me list them to sell for higher price while the negotiations are in the works with the investor so that a buyer is in place right after they get the short sale approved. I need time to consider....I'll have to get back to them.
- Kristen Blanchet, "Massachusetts Broker"
- Contributions:526
Hi there! I can provide you with a list of available short sales if you would like to contact me through my page. Just let me know what areas you are interested in and what price range.
- Sven Amirian, "Sven Amirian"
- Contributions:39
A word of caution of short sales. Most times they are anything but "short". Don't get me wrong, you can get a great deal, but the process is often very lengthy because any offer you make must get approved by the bank that holds the note. Since most banks are swamped right now it can often takes weeks to get a response. If the offer is rejected you need to get back in the cue and wait another few weeks for the second answer and so on. If you have time to browse and you are a patient person, this can be a good way to find a bargain. Just keep in mind that like a foreclosure you are still dealing with a bank not a motivated seller. Let me know if I can offer any additional insight.
- Jennifer Marks, "RelocateWithJen"
- Contributions:100
Where are you looking? I would be happy to help -- You must be patient but you can get some great deals. Short Sales take longer to close than traditional sales.
- Sam DeBord, "SeattleHome.com"
- Contributions:3472
You're going to want a real estate broker to help you out with your search. It will take a lot of time doing research and missing out on properties on your own.
How do I find a "short sale" on a home.
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