Made 3 cash offers on a short sale through an agent in 32819, seller never responded (no rejection, no counter, nothing) Should I just

Asked by Mary, Outside U.S. Tue Dec 29, 2009

walk and look elsewhere?

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Avi Maganda’s answer
Avi Maganda, Agent, Apopka, FL
Tue Jan 12, 2010
1. Where you offering full price or offer a very low-ball offer?
2. Did you waited at least 3 months for a response or demanding aswers within a week?
3. Did you provide the additional documents required (Proof of Funds, addendums, even deposit) or you chose it do it your way?

I have a feeling that you were making these offers at the SANCTUARY at DR PHILLIPS and let me tell you that unless you do a very CASH competitive offer, it is hard to be even considered on BANK-OWNED properties, or get Sucessful Shortsales since these condos have a large HOA Bill when in pre-foreclosure, something that is usually not attractive for a Seller's Lender in that stage.
0 votes
Judy, , Northbrook, IL
Tue Dec 29, 2009
Just because you made a cash offer, Mary, doesn't really mean anything to the seller's lender. The amount of the offer is the most important ingredient. If your offer wasn't high enough, then the seller will wait for an offer that has the best chance of getting an approval from the lender. Also, to make your offer as strong as possible, you should include proof of funds and make an earnest money deposit of at least 1% of the purchase price. That way, the seller and the lender will know you're serious and that you will stick out the short sale process, which can take many, many months.

Good luck in the future.

Judy Chapman
Coldwell Banker Residential Real Estate
521 E Mitchell Hammock Rd
Oviedo, FL 32765
Direct: (407) 227-7763
Office: (407) 365-9090
Specializing in Oviedo, East Orlando, Winter Springs, City of Orlando & Winter Park
1 vote
Agnes Tabor, Agent, Naples, FL
Wed Aug 1, 2012
From past exposure with Short Sales it sounds like the sellers agent is not fully on top of the process. I had 3 fall thru for just that reason, after six months I suggested my buyers move on.

One that I just closed on was a great example, it happened to be a home that i was having an Open House at. Before I would do the Open I spoke to the sellers agent to be sure that everything was in place with the sellers and bank. After opening for 2 months, I got my buyers and we closed as as short sale within 5 days.

Short sales are not, the holy grail and not always the best deal. Sounds like it is time to move on.
0 votes
Alys Esmond, , Orlando, FL
Wed Dec 30, 2009
what a lot of responses you have got to your question.... and from all over the country to boot!
Short sales are hard, not necessarily a bargain and are really complex to navigate. And, did I mention? They are really hard!
As noted before, no response IS a response: your offer is duly declined. No lender will agree to a price that is below 87% of market value; 90% may even be the cut-off point these days because:
wait for it....
here it comes....
the market is stabilizing!

Six months ago, lenders were approving short sale prices at 87% of market value because they were factoring the assumed decline in market price between offer and close. Guess what? We aren't if a free-fall any more. Prices aren't increasing, but someone has put the plug back in the bath!

Frankly, if your agent hasn't explained to you that an offer that has expired is an offer that has been rejected... if it were me, I'd be looking for a new agent. Believe me, there's lots of us out there that will tell it like it is.

Good luck in your search! There's lots of opportunities out there.

Alys Esmond
0 votes
Horace Bryan, Agent, New York, NY
Wed Dec 30, 2009
Update to my previous answer. A cerrtain blogger in another section of Trulia, revealed that, a certain law is comming in 2010 that will allow relocation funds for the mortgagor (seller) to move. Another great feature is that the law will require the lender to state in advance what their "upset price" is, and a few other goodies. The name of the name of the legislation is : Home Afrodability Foreclosure Alternative Program (HAFA) check it out. Oh, I just thought of it. I picked up this link from Google...
I see it's not a live link. So you ought to higlite this dead link, copy it and past it into your "address bar" and press go...any correctly spelled words is purely coinsidental...Mr. McCoy
0 votes
Bill Eckler, Agent, Venice, FL
Wed Dec 30, 2009

Welcome to the fickled world of short sales..........where the only rule is, there are no rules and common sense is in a short supply.

The majority of short sales involve anxiety, frustration, confusion, a lack of information, working with individuals that don't return calls, disappointment etc. etc. If you are a serious buyer, your time
may be best spent in other arenas(regular sales & foreclosures) that are more civilized and represet savings as well.

Our best advice is to point out to you what you have already you need more of the same?

Good luck
The Eckler Team
0 votes
James Gordon…, Agent, Hamilton, OH
Wed Dec 30, 2009
Mary it is time to look at other properties. Some sellers list the property as a short sale after talking to their lender just to get extra time in the property for free. I have tried to show some short sales that have been listed with this intention. I have recieved showing instructions where we could see the property m,w,f from 12-1. If it sounds like the seller is not trying to cooperate it is time to move on. In a short sale there is a lot of paperwork that the seller needs to provide in a timely fashion and it sounds like this one is stonewalling. You may be better off finding a property where the seller is serious.
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0 votes
Alan Martin, Agent, Orlando, FL
Wed Dec 30, 2009
Hi Mary

It may be true that the majority of Short Sales do not close but that is changing. Bank do not want to go to the expense of an attorney to foreclose and are starting to TELL their delinquent homeowner to shot sell the property as it is the most cost effective way of doing things from all perspectives.

Contrary to the general trend, we are 98% successful with our short sales. So if you want help with one then please call or e mail

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0 votes
Mark LeMenag…, Agent, Lake Nona Orlando, FL
Wed Dec 30, 2009
Hi Mary,

Unfortunately, the majority of properties marketed as short sales will never get closed. There are many reasons why this happens. Sellers who really don't want to sell is certainly one of them.

You do not mention how close your offers were to the asking price. The fact that the seller let your offer die is, in itself, a response.

If you are a foreign investor looking for a bargain in Florida stick with bank onwed properties.

Good Luck,
Mark LeMenager
Weichert, Realtors - Hallmark Properties
0 votes
Don Tepper, Agent, Burke, VA
Tue Dec 29, 2009
Look elsewhere.

No response from the seller means the seller isn't serious. Remember: Regardless of how high or low your offer, if it's a short sale the seller won't receive a penny. So it doesn't make sense for the seller to refuse to respond.

Or . . . wait until the house goes into foreclosure. Then make an offer directly to the bank (via a Realtor). I know plenty of investors who do that, knowing that foreclosures, though not simple, are far, far less complex and frustrating than most short sales.

Hope that helps.
0 votes
Dallas Texas, Agent, Dallas, TN
Tue Dec 29, 2009
Always short sales you may never receive a counter offer or acknowledgement, standard practice in here in Dallas area.

If bank who approves the offer likes it they in most circumstance approve within 10 working days, keep moving on who knows you might have a response while you conitnue the search.

We instruct our buyers although submitted an offer on short sale or foreclosure let's keep moving forward not loss other alternatives on market... have a plan a, b, c, d, e,

National Featured Realtor and Consultant, Texas Mortgage Loan Officer, Credit Repair Lecturer
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0 votes
Horace Bryan, Agent, New York, NY
Tue Dec 29, 2009
Mary, the term "short-sale" may mislead some of us. The term ought to be "short offer". When a seller is convinced that he may be better off walking away with a "soiled credit record", rather than the much worse "foreclosure record", this does not define a "short-sale". This would be like my sending a love letter to Madona and then sending out invitations to all my friends for the wedding.

The bottomline is, It "ain't" a short sale until the bank releases the lien at the closing. Some sellers and agents nominate a transaction "short-sale" even before they know if the seller's HARDSHIP condition qualifies them to execute a "short-sale". If the seller's financial statement does not support their claim to be incapable of paying off the loan by any other means, the bank is hardly likely to agree, to wave a dificiency judgement.

"Short-sale" wanna be's, should be aware that they will not get a penny from the proceeds, so it is in their interest to submit every offer, large or small. Most sellers would not be aversed to the buyer submitting offers directly to the bank. Furthermore, it is not necessary to use an agent. Here I go again employing my TOUGH LOVE, and speaking against interest. Seasoned investors, who specialize in "short-sales" are much more likely to succeed with the bank, than an agent. This hint is for the sellers.

Hint to Mary, you may want to ask the agent to find out from the seller who the PRIVATE MORTGAGE INSURANCE, company is and send them copies of the offers asking them to nudge the lender to consider your offer. The PMI guys are on your side, because they want to mittigate the loss that a foreclosure would cause.

Another factor that comes into consideration, is location. If the location is classy, the bank will be less fearful of vandalism, should a foreclosure eventuate. A further factor is the class of the owner (mortgagor). A doctor, lawyer, teacher etc., is hardly likely to vandalize the home before they leave, if foreclosure occurs...
Warning, my spelling may offend Mack...
0 votes
Anna M Brocco, Agent, Williston Park, NY
Tue Dec 29, 2009
Keep in mind that not all short sales are great bargains--you have so much to choose from, why waste time waiting around, not only for the seller but later on for the bank to accept, reject or counter--it's a lenghty process and by no means short, keep looking or if you must have any of three you have offers on, up the anti and take it from there.

0 votes
Alan Martin, Agent, Orlando, FL
Tue Dec 29, 2009
Hi Mary

My office is in 32819 so I am well placed to help you. Not all agents are knowledgeable to help with short sales. It could be that you have chosen one that is not. The Short sale process can be complicated and long and needs to explained and then monitored closely by all concerned. I would need to know the MLS number of the home and the price that you offered to be able to help you further.

Please e mail the info to

I find it difficult to believe that a fully engaged seller would not sign any reasonable offer as that kick start the short sale process. Lenders do not generally entertain enquiries until they have an offer signed by buyers and seller in front of them

I look forward to helping you further

bye for now

0 votes
Steffani Mar…, , Orlando, FL
Tue Dec 29, 2009
Hi Mary;

Unfortunately, short sales can be a very trying experience for both home sellers and home buyers. Many times, the sellers are so inundated and frustrated themselves and depending upon the interest and price of the home, there may be several offers coming in at the same time.

An agent is required to submit your offer if you submit one, so as long as the agent did submit the offer, it is then up to the agent and homeowner to answer, however those odds of answering significant decrease if there are several offers at the same time. It may very well be that the seller already accepted an offer and the offer was then submitted to the bank, but your agent was never notified that this was the case. Again, unfortunately not all agents are great at responding either.

My best advice to you at this point would be to walk and look elsewhere. Most likely, your time frame for an answer has elapsed, so you are not bound by a contract. There are plenty of homes on the market and some good deals can be found, so keep looking. I would also suggest finding another agent who will do the follow-up work and provide you with concrete answers instead of waiting and wondering. If I can be of any further assistance, please feel free to contact me.

Steffani Martino, Realtor
Coldwell Banker Residential Real Estate
0 votes
Darla Schroe…, Agent, Madeira Beach, FL
Tue Dec 29, 2009
Hi Mary. Normally the seller will either agree, counter or reject the offer presented within the time allowed for response. The fact that the seller never responded at all after 3 offers indicates to me that they either 1) are not engaged in the process and don't care one way or another whether the home is sold in short sale or; 2) they think that the offer/s are way too low to even consider a counter offer. Either way, I would recommend looking elsewhere. There are plenty of bargains that offered by motivated sellers that are not short sales or bank owned. Also, there are plenty of sellers working with agents familiar with short sales who will treat any offer with interest and respect. I hope this helps. If I can be of any assistance, please contact me.

Darla Schroeder, Realtor, GRI, e-PRO
Certified International Property Specialist Candidate
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Century 21 Real Estate Champions
4350 Duhme Road
Madeira Beach, FL 33708
Cell (727) 541-3743

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