Home Buying in 91355>Question Details

Jane, Home Buyer in Santa Clarita, CA

Why would you list a property and then not allow anyone to see it?

Asked by Jane, Santa Clarita, CA Sat Mar 21, 2009

I've noticed alot of "short sale" homes are on the MLS but then when my agent calls they don't want anyone to see the property. What's the deal? Do they really think they'll sell without anyone seeing the inside? Thanks.

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11
That’s a great question, there are many different scenarios that might lead to this situation. A common scenario is that it is a tenant occupied property(rental property) and the owner wants to list the home and the tenant is being uncooperative. It also can be a foreclosure scenario where the sellers are in a horrible situation where they are losing their home and are not willing to co-operate with the bank. In a hot market like today, many buyers are willing just to drive by the property and submit an offer subject to an interior inspection.
3 votes Thank Flag Link Sat Apr 6, 2013
that makes sense now!
Flag Fri May 3, 2013
Hi Jane,
This is something that agents struggle with frequently. The easy answer is the seller is not going to profit from the sale and does not have much incentive to cooperate. However, if you have a property that you really want, you can write an offer subject to interior inspection. Sorry, short sales kinda stink!!
Best of luck!
0 votes Thank Flag Link Wed Oct 2, 2013
Hi Jane,

I'm afraid as a short sale listing the seller isn't walking away with any money. Except maybe cash for keys and that's only a few thousand. Needless to say the motivation for the seller is very low.

With the current market that seller would have buyers coming over all the time and for what? Again he's not making any profit.

It's not fair but that's what some sellers of short sale properties are thinking.
0 votes Thank Flag Link Sat Sep 7, 2013
Hi Home Buyer,

That is a great question and it's happening more and more in our current market. As you can see from the previous posts there are many reasons why this may happen.

Another reason is a seller in a short sale situation is not receiving any monies from the sale and sometimes simply can't be bothered to have buyers come in and interrupt their life.

Also there is still shame that comes with having to do a short sale and as much as the seller wants to do the right thing they still don't want their neighbors to know their business.

There is nothing wrong with submitting an offer, "subject to interior inspection".

Thanks for the question!
0 votes Thank Flag Link Mon Apr 8, 2013
wow, this is an old post! But oddly enough it still happens!
0 votes Thank Flag Link Mon Sep 10, 2012
My guess is the "seller" wants to live there "payment free" as long as possible.

Happy funding, Rudi
Web Reference: http://www.umboc.com
0 votes Thank Flag Link Wed Mar 23, 2011
Many factors come to mind regarding your question. Some web-sites will show a home "active" when it really is in "back up" offer status. It appears on the web-sites still because they are taking back ups but some sellers don't want to be bothered with buyers coming through if they already have an offer.
Another scenerio is the fact the seller wants to stay as long as possible in the home and thinks by sabotaging showings it will prolong the process. It also happens in unfriendly divorce situations and unhappy tenants.
Another reason that as a professional I don't like to bring bad light regarding my peers but some agents don't want to show short sales because they take a long time and they want a easier sale so they may be telling you, you can't get in when they just don;t want to deal with it.
Keep mind that most sellers loosing their home "really" don't want to sell it but have been put in a unfortuante situation that they are forced to get out.
0 votes Thank Flag Link Mon Mar 21, 2011
I agree it can be crappy. Another issue is if there is indeed an accepted offer by the human seller the property needs to be placed in back up or pending as per the MLS rules.
0 votes Thank Flag Link Mon Sep 13, 2010
A Short sale is a sale none the less and transaction due to close in escrow? Correct ? ???

A "subject to" short "Scam" is a lenders way of fooling each and every sucker who is a party to the misrepresentations and attempt to defraud all potetential buyers.

If I were an agent I would bid every soon - to -be broken short or "sham" sale offer / deal and bid the home at the courthouse steps. Then, force the lenders hand.

Look my fellow debater's - It (Lender) wont do a short sale at 85% of the outstanding obligation but will take a liquidation sale by a trustee for half the amount.....What the #^@#!

Really.

Clue . . . (Ask AIG )
0 votes Thank Flag Link Sun Aug 2, 2009
This is an interesting question. I am in Santa Clarita and have been previewing and showing many short sales. I have yet to encounter this issue unless they are awaiting a response from the bank & already have offers.

When your agent calls is he being told that they already have offers because sometimes the property will show on the MLS as active while the agent & seller are waiting for a response on offers they have. In this case the seller (or agent) are just tired of showing the home and want to wait for the banks response before deciding to continue to show it.

Have you asked your agent why he/she thinks this is happening?

If the above scenario is not the case then I am very confused because I am constantly looking at these properties and if the property is on hold for showing I have always been able to get a response from the agent as to why.

If you have any more specific questions feel free to e-mail me:
Burns9596@sbcglobal.net

Hope this helps!

Good luck with your home search in the SCV!!!!
0 votes Thank Flag Link Mon Mar 23, 2009
i have been making offers on short sales for the last 2 weeks - i have found most listing agents in our area haven't even talked to the lender - the owner hasn't talked to the lender - the listing agent hasn't talked to the owner - the owner has moved - and sometimes the agents only have an email address of the owner- hard to show a property when the agent has no key, no completed disclosures, no direct route to the lender, in fact, i wonder if they have a listing??? this has been very frustrating for my buyer
0 votes Thank Flag Link Sat Mar 21, 2009
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