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Truro : Real Estate Advice

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  • Home Buying4
  • Home Selling1
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Activity 5
Mon Oct 24, 2016
Patricia Lemme answered:
Wed Dec 14, 2016
Ron Thomas answered:
It could be $150/sqft to $800/sqft
There are just too many variables!
Like asking how much a new car costs.
0 votes 12 answers Share Flag
Mon Oct 24, 2016
Divya answered:
Hi PJ!

You should work directly with an agent who can help you learn more about that specific property (and probably will know a lot about similar properties in the area). To find an agent, just click on the yellow button on the property's listing and you will be able to start a dialogue.

Divya
... more
0 votes 6 answers Share Flag
Fri May 25, 2012
Alan May answered:
Summertime - the only way for someone to give you an accurate assessment of your home's true value is for an agent to actually visit your home, see the inside and compare it to other recently sold and active properties in your market. ... more
0 votes 9 answers Share Flag
Tue Aug 11, 2009
Joseph Finnerty answered:
When the bank reviews a short sale agreement, they typically request an appraisal or BPO (broker price opinion) to determine what the home is worth. They are not going to let someone come in and "steal" the house. They are going to attempt to get the market value for it.

If the comps are showing a price range of $440-450k, then your offer should be somewhat in that ballpark.

I had a recent shortsale with Countrywide. The house was listed at $264,900. A buyer made an offer of $240,000. The offer made its way through Countrywide. Negotiator 1 approved it, negotiator 2 approved it, then the investor countered the offer back at $255,000. It took two months to go through this process and by that time we thought they were going to accept the $240,000.

The buyer ended up responding with a highest and best of $248,000. Two weeks later Countrywide accepted the $248,000.

I didn't see the appraisal that was done by Countrywide but my guess is that it was for $255,000.

Short Sales take a lot of patience from the buyer. When you view the home, you are excited and it doesn't seem like a big deal to wait on an approval from the bank. As the days go by with no status updates it gets harder for a buyer to wait. I had one buyer wait 5 months last year before pulling the plug and going after another house.

Regards,

Joe Finnerty
484-241-1641
Long & Foster Real Estate, Inc
Bethlehem, PA 18020
Office: 610-865-7776
... more
0 votes 3 answers Share Flag
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