What is the deal with short sales? Can a buyer make an offer, or is the price listed the price w/o?

Holly
Home Buyer
Dennison, OH

negotiation?

Answers (5)
Marge Bennett
Agent
Fort Myers, FL

Yes, the buyer can make an offer. Ask your agent to do a good CMA focusing on recent solds and pendings to submit with the offer to justify the price.

Wed Jul 8 2009, 16:06
Melissa Antenuc...
Mortgage Broker
or Lender

Boca Raton, FL

HI Holly,
You also may want to take into consideration what the current owner owes on the mortgage before you make an offer. They do list it at fair market value but at the end of the day the banks are not in that side of real estate but they will try to avoid large losses.

Good Luck
Melissa Antenucci
Ameritrust Mortgage
561-417-9221

Sat Jul 4 2009, 07:02
Mark Washburn
Agent
Fort Myers, FL

Unfortunately, many short sale prices are set by the seller without guidance from the bank about what they will accept. Many short sale deals are challenging to get closed and everyone involved gets frustrated.

We have been having significantly higher success levels with foreclosed homes. Here is a resource to view all the active foreclosure listings in Fort Myers: http://www.greaterftmyers.com/fort-myers-foreclosures.php

Good luck with your search!

Fri Jul 3 2009, 16:45
Lloyd Nichols
Agent
Fort Myers Beach, FL

Holly,

The price on a short sale is set by the Realtor and/or Owner. However, the owner's lender must approve any offer. Depending upon the property, the utlimate selling price may be over the listing price. For more information, please feel free to drop me an email or call.

LLoyd Nichols
Realtorlloydn@aol.com
Right Choice Realty LLC
cell: 239-810-2980
office: 239-463-5217
Activerain Local Blog: http://localism.com/neighbor/lloydn
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Website: http://www.mlsouthwestfloridahomes.com
Search the MLS in Southwest Florida
Listingbook: http://lloydnswfloridahomes.listingbook.com/

Fri Jul 3 2009, 13:18
Marge Bennett
Agent
Fort Myers, FL
FIRST ANSWER

Certainly you can make an offer. Ask you agent to assist you coming up with a "reasonable" one by doing a cma for the property. This can also be used by the listing agent to justify the numbers to the bank.
Marge Bennett
Sellstate Achievers Realty Network
239-+560-4159
Marge Works Harder... for YOU!!!

Fri Jul 3 2009, 13:09

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