I would first want to make sure you are a good candidate for a short sale. These can take a long time and may not actually go through so regardless of your qualifications to purchase the home is a short sale a good fit for you and your situation?
This seller is an original owner who has refinanced the home quite a few times and there is a large 2nd loan against the home too, in total over $1,000,000 is owed. The good news is that both loans are with the same bank, Wells Fargo. Since the home is still available and not "in escrow" (it really won't be in true escrow for months even with a full price offer) this will take a long time to sell unless it goes to auction first.
At the price this house is right now it is approximately $258/sq.ft and the average sales price in this community this year is over $320/sq.ft. Also an agent I know that works in that community quite a bit has the same plan listed for sale at $1,024,900 right now. I believe this home is priced lower to get an offer and stall the auction and there may not be any real effort to sell the home quickly. You could offer the asking price thinking you should get the home because you are offering what they want and you are OK with the fact this is an 'as-is' sale and you may have to spend more on termite work or repairs that have not been done. The bank may still come back at a higher price depending on their valuation of the home and what the other lien holders have agreed to accept. Since the average sales price is higher (over $1,000,00) you need to consider that likelihood seriously.
Long story short, are you a good short sale buyer and is this a good short sale property for you to buy?
Good luck with your search,
Brian Wilson, Realtor
This property is currently listed as a short sale in a very beautifulf tract of Aliso Viejo and is one of the best priced homes in that category right now. I think if you are looking in that price range you need to check it out. I will be happy to schedule a showing if necessary. Feel free to call me at 949-400-1330 Thanks
It looks like you have lots of agents ready to give you the professional help that you need. Keep in mind the property may be up for sale at the court house steps and the bank may postpone the sale. This sometime happens many times. If you are able to pay cash you can go to the steps and bid on the house. If you need more info please let me know and good luck. Oh, by way I live in Laguna Niguel just minutes from this property as well.
OC Homes Realty
Please call or email regarding any question on this property. It's a short sale on the market for 78 days and I just need to make an appt with the owner.
REALTOR & Real Estate Consultant