Short Sale

5 Replies

I am considering making an offer on a short sale. The house is "listed" considerably below market value. Can someone with experience with short sales offer up some advice?

It is best to hire a experience short sale agent.

Joe Gore

I just went through hell with a short sale. Had this house under contract for 4 months and the bank canceled the loan on me. Waste of time from my end.

Medium pytcher homesJoseph Pytcher, Pytcher Homes | [email protected] | http://www.pytcherhomes.com | TX Agent # 0680890

The listing price is irrelevant to what the bank will accept. There is no problem going in with a low number, as long as you're willing to come up some where near FMV, less Major repairs. This is really is a stupid move on the listing agency's part though, as if they accept a low offer, and the buyer is not willing to come significantly higher, then they have just gotten that seller 90-120 days closer to an auction.

Like Joe said make sure your find an experience short sale agent that understands the Equator system. In my experience short sales a much harder to close then foreclosures. Also make sure you are willing to be Very Patient. Could take at least 90-120 days.

Best of luck,

Medium separated 01  1 Ray Orellano, Scudo Realty & Property Management | [email protected] | 913‑998‑6285 | http://scudore.com | KS Agent # BR00231137

ask agent what stage of the process: is list price approved amount, is house approved for short sale, etc. they were estimating 6 months out, but i know a few agents who's had a listing-contract pending since March, 2013.

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