Barb, Home Buyer in Alameda, CA

How to calculate how much to offer on a short sale.?

Asked by Barb, Alameda, CA Sun Jun 17, 2012

The current short sale asking purchase price is $99,900. In 2009 it sold for $53,500. It was rehabbed in 2009. Do you think an offer of $100K will be accepted?

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Answers

1
Without knowing anything about the property but price, hard to say. The price it sold for in 2009 is irrelevant.

What does your agent think?

Remember on a short sale, there has to be a hardship, the sellers bank does not have to agree to a short sale and the sellers bank has a final say in what price they will accept.

Make your best offer based on similar properties and the return on your investment (estimated rental income less expenses.)

It needs to pencil out to make sense no matter what the price.
0 votes Thank Flag Link Sun Jun 17, 2012
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