Question Details

Sam, Home Seller in Riverside, CA

Is it possible to negotiate with the bank on a short sale without a realtor?I don't want 100 reasons why it

Asked by Sam, Riverside, CA Tue Mar 25, 2008

is a bad idea, I just want to know if it is possible. I have a realtor I could work with if I needed to, but I'd rather do it alone with the homebuyer, a former realtor, if at all possible. is this unheard of?

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7
Yes you can do it. but personally I think you'd get a better deal with one of the following:
1. the 60 days you have to wait to hear from a bank, you could have made 2 or 3 better deals with a property that has been on the market for a long period of time. Drop a 80% offer.
2. You are attempting to make a deal in a house covered in a cloud of bad energy, don't be surprised when it rubs off. Personally I stay away from these for this reason entirely.
3. One way to get a deal is dropping a hand written note on ANY house in a neighborhood you want to buy that says "my girlfriend and I want to buy a house in this neighborhood and yours looks cute from the outside. Do you know anyone that is looking to sell?" I always get responses, better prices and positive energy into the home.
0 votes Thank Flag Link Tue Mar 25, 2008
Sam, I would say that it is possible, but don't be surprised that it will be a long, drawn out process. It is even for us as agents that know the processes and the ins and outs of the process. I am not sure what your reasoning is to not using an agent. However, if you think you will be getting a better deal from the bank...I doubt that is going to happen. They will just pocket more money for themselves.

Best of luck to you!
Web Reference: http://www.gomelinda.com/
0 votes Thank Flag Link Tue Mar 25, 2008
thank you all for your honesty. :)
0 votes Thank Flag Link Tue Mar 25, 2008
It is always possible, and I won't give you even one reason why it is a bad idea. (per your request).

Good luck with that.
Web Reference: http://www.OwnGR.com
0 votes Thank Flag Link Tue Mar 25, 2008
Sure, you can do it. Just call the Seller and tell him or her you want to make an offer.

You (or, if you had an agent your agent would) negotiate with the Seller. When you have acceptance with the Seller, then the Seller negotiates with the bank.

Let me qualify that--that is how it works in my local market, in western Washington State. It might be different in your real estate market.

Best wishes!
0 votes Thank Flag Link Tue Mar 25, 2008
Yes, it is possible. In fact, real estate investors do it frequently. So, no, it's not unheard of at all.
0 votes Thank Flag Link Tue Mar 25, 2008
Don Tepper, Real Estate Pro in Fairfax, VA
MVP'08
Contact
Sam,

It's possible. Sadly, the chances of success may even be the same as using a REALTOR®.
There's an awful lot you have to know about the process and even agents that I know tend to jump into the process without knowing how the process is to be conducted.

If you feel you have all your ducks in a row, or close to it, give it a try!

I would love to hear how you make out.

JD “Dan” Weisenburger, GRI
Broker-Associate REALTOR®
Vanguard Realty, Inc. GMAC Real Estate
Web Reference: http://www.neflahomes.com
0 votes Thank Flag Link Tue Mar 25, 2008
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