Property Q&A in Spring Hill>Question Details

Hiddentrails, Home Buyer in Spring Hill, FL

Are 'short sale' prices pretty much firm or is there room to dicker?

Asked by Hiddentrails, Spring Hill, FL Tue Feb 12, 2013

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No, Short Sale prices are not FIRM! The price of a short sale has been set by the home owner and their agent that hopefully pulled comps in the area. after the home owner accepts a reasonable offer for their home, Then it is up to the owners lender to accept or most often counter that offer price. Remember the home owner owes more for the home then they are trying to sell it for, so the lender is trying to recoup as much as possible for that home, but still keeping market conditions in if you offer 80k on a 100k short sale the owner may sign, but then it is up to the lender on what they are willing to accept.
0 votes Thank Flag Link Tue Feb 12, 2013
It depends. If the price has been stablished by the selling bank then it is fixed. If it has not gotten any offers yet, then it is flexible until the bank does an appraisal and determines how much they actually want.

Confused yet? Most short-sales have a listed price set by the agent that is not a bank approved price. You are always better of only going after short sales that say "bank approved price, close in 30 days"....else it will be a rollercoaster. Was this answer helpful? If so please click on the "green thumbs up" or the "best answer".

Tony Vega
La Rosa Realty
0 votes Thank Flag Link Tue Feb 12, 2013
Ultimately that all depends on the specific situation. Please give me a call at your convenience at 352-397-5182 and I'd be happy to go over it with you and give you my thoughts on the matter.


-Joshua Hanoud, PA
Tropic Shores Realty
Cell: 352-397-5182
0 votes Thank Flag Link Tue Feb 12, 2013
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