I have been running into allot of people asking me whatâ€™s
going on with short sales? Why am I not able to buy a short sale now like I was
able to last year? Is the market better?
Well, the market is certainly not better. It has
increased for short sales. More people are looking at this as an investment
purchase. So why are so many people loosing this battle?
Simple, there are bidding wars starting to climb
fast in this business. Banks and sellers are getting smarter at selling homes
then last year. Last year and the year before people were just happy to get rid
of their homes or get an offer. Now, the banks are seeing more people
purchasing short sales and they want in the excitement.Â
So how do you win your offer on a short sale?
Offer on the price or just above the listing
price. Donâ€™t waste your time bidding against others. YOU WILL LOOSE. I canâ€™t
count how many homes I lost to bidding wars for my low ball offers. You end up
loosing the home you wanted and think to yourself I can find another home. Then
guess what, you loose another home.
If you offer at the price of the home or above
you have a better chance in getting it. Be BOLD and offer above and beyond the
listing price. Youâ€™re getting a good deal anyway.
Ernest R Powell