Considering purchasing a short sale? There are a few tricks of the trade that I pass on to my clients. A buyer that is on a specific time frame (moving to the area, has a home to sell also, list price nearing buyers maximum criteria) should stay away from short sales. Believe it or not, with a short sale, a buyer can offer OVER asking price and the bank can still say no. In a short sale, price is set by the listing agent, and is generally an educated guess at what the agent thinks the bank will accept. Still interested in a short sale? I also have experience getting MY client’s offer accepted when there is a multiple offer scenario.
I understand this is quite a bit of information. Whether you are buying a short sale or considering short selling your home, make sure you contact a short sale specialist!