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Pretty soon we need to start asking qualifications of the seller prior to making offers on houses? Is XYZ bank or investment group reasonable? Is the short seller just proving to the banker what the price is so the seller can get a mortgage reduction?
Beware of short sales or of properties that seem too cheap. If you do win that cheap property, you really need to hire a couple of different inspectors.
If you seriously want to buy a home, for yourself, look at what you can afford, in the area you want to be located in, and look at homes that have been prepared for the market, and have sellers who are willing to do what it takes to get it sold.
If you are looking for the low cost deal, for the quick turn around, you need to find a very nice agent who has a lot of free time, and doesn't mind making tweny plus offers for every sale. This is not me, so don't ask, but there are agents who will do this.
Sometimes the agent deliberately prices the house too low to attract multiple offers. I currently have a short sale listing the I priced based on a value I would have establishedby doing a Broker Price Opinion ( I have completed nearly 1200). The property was in poor condition. I did price it somewhat aggressively. It did attract multiple offers and we have an accepted offer well over asking. However, part of the reason is due to lack of inventory.
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Short sale - whats up with the agent asking price way way below comps in the area.
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Rapper Donte Washington, "RapperDawg"
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