Hi Krista, a real estate professional will be able to give you a better idea of a reasonable or effective list price based on local comparable sales. Typically, similar transaction types would be used during this process (for instance, standard sale vs. standard sales, foreclosure vs. foreclosures, etc.). The reason for this is that short sale properties often sell for less than traditional sales due to the hassle of the process, condition of the property and other factors. Have you looked into what other non-short sale properties in your neighborhood are going for?... more
Hi Digitalarmsdealer, consult a Realtor and your lender to get an accurate current market price of the home. Keep in mind that when you do a short sale you will not have good credit for possibly 3 years.... more
You have a great question. You may think you can offer that much lower but in reality you cannot. Banks are very strict about what they will accept in a foreclosure. Are you asking for closing help too? If so, that would be 2 strikes against you, offering so much lower, and requesting closing assistance to be paid by the seller. If you're approval is for $350,000, stick to no more than $36
0,000. The steals are that you're getting the home at the price, when most likely the seller paid $100,000-$200,000 more than it's current asking price. You're getting the steal from what they paid. As long as your agent has been in business for several years, experienced in foreclosures, short sales and truly has closed many houses in their time in business, trust them. If it's not a good fit, then you can certainly interview for a new agent. Best of luck!
Ariana Loucas RE/MAX... more
Send me your email address and I will put you on our weekly investor mailing list - its free so it fits with your cheap - lol - and we have monthly investor seminars - again free, and if I get a sponsor, they feed us too! We deal in pre foreclosure, REO's and all the ways you can deal with banks! We teach you all for free - we just want your business and the business of your friends too!
Bill Wootan - Leader of Team One
Century 21 H T Brown Real Estate, Inc.... more