Short Sale what a deal! What does that low price really mean to you! SS Defined.

Profile picture for Tere Rice

Priced below market value. What exactly does that means to a buyer? So many times I have had to explain to buyers that some "prices" are really just lost leaders?


I further explain the below market price is;

 1. A desperate agent trying to save the house from going to Trust Deed Sale

2. Trying to evoke multiple offers ie a Bidding War

3. Fishing for an "All Cash" buyer

4. Helping the home owners stay in the home payment FREE

5. If the low price is accepted it could mean the buyer will drop out when the bank counters at market value

6. The house needs so many repairs it will not qualify for a VA or FHA loan

7. The list agent just does not know how to work a Short Sale

8. The sellers do not qualify for a Short Sale and the agent is stalling

9. Write the offer contingent on seeing the inside tenants not cooperating

10. The sellers are going to hold out for TD Sale and cash for keys

 So how good of deal does it look like now? Oh the time frame 30 days to 6-9 months. No guarantee as when or if it will close. Be patient. Don't fall in LOVE.

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October 12 2011 - Temecula
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