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forclosure or offer?

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should i wait till the house goes to forclosure instead of making an offer on a short sale?

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April 09 - Hesperia

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nvchaz
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I learned early on to stay away from short sales. My agent and I went through this and I decided to stay away. Why? Too much energy trying to force it through. One, two, maybe three lien holders.

I track 'em however, waiting for the foreclosure. This unfortunately seems to be a very long process as I have not seen a short come up as a foreclosure in the 3 months I have been watching.

I still do not understand what the benefit of a short sale is to both the owner or the bank. If I was an owner, I'd rather walk away. If I was the bank I'd rather clean it up with a foreclosure.

I think this is a phony deal and I stay away.

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April 13

Roberto Ribas, "azrob"
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Roberto Ribas, "azrob"

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depends on the price. In az, which has one of the largest foreclosure markets, most short sales never sell. In fact, of 12,000 listed short sales, only 700 sold last month. Compared to 6000 bank owned homes selling, out of 12,000 listed.

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April 13

Nicole Lindler, "NLindler"
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Nicole Lindler, "NLindler"

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No..that could take months and sellers using short-sales fully intend to AVOID foreclosure and auction of their property. Don't wait. Someone else will make an offer and get it accepted, and you'll lose the home...talk to your agent

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April 13

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