I would like to know, is this the actual price for this home, or is this a Bid price...

Asked by Derrick Bledsoe, 77045 Sun Feb 10, 2013

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This question was asked from this property: http://www.trulia.com/property/3085728530-4106-Staghorn-Cora…

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Al Geffon, Agent, Houston, TX
Sun Feb 10, 2013
Derrick ...

It's sort of both. A short sale requires approval by both the seller and lender, since the transaction involves a lower price than what is owed on the home. The lender will either agree to take the hit or reject the deal ... if the latter occurs, it's back to square one. Many short sales never get to closing ... the national average is about one in four. If they were relatively routine, everyone would be looking for them, in quest of that elusive bargain (much the same as foreclosures ... another topic for another time). Irrespective of the outcome, the process takes forever ... I had one drag on for eight months, only to fall apart (it's common).

If you're actively seeking a home, and time is a factor, a short sale is not your best option ... and again, there's no guarantee that the property will ever sell for the listed price. If you'll let me know what your criteria are, I can set up an alert, so that you'll be notified of new listings the moment they come on the market. Please get in touch ... I look forward to hearing from you.

Regards ...

Al Geffon
(713) 213-6350
al@geffon.net
Web Reference:  http://www.har.com/algeffon
0 votes
Craig Henry, Agent, Houston, TX
Sun Feb 10, 2013
Hi Derrick, yes, That is the current price of the house. It is however a short sale. Also, an offer has been presented to the bank but they will continue to show the home on the chances that the offer falls through. If you would like to take a look at this home just to keep it in your back pocket if the deal they have on the table does fall through, I'd love if you'd give me a call. Or if you are looking for something in particular, let's talk

Craig Henry, Realtor
Keller Williams Metropolitan
832-600-6612
craighenry@kwrealty.com
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