Short Sale Offer

5 Replies

I've never had any success with a realtor wanting to make an offer on a house listed on the MLS as a short sale... i was wondering if it'd be possible for me to contact the seller directly and make a cash offer (possibly under listed price)... are they bound to sell it after it's listed? Is what i'm asking to do even legal?

Thanks in advance for the input!

what about just reaching out to the actual homeowner to see if they'd take a cash offer so it doesn't get stuck with the banks waffling on the decision?  So in this case, I can see that the homeowner purchased the home for around 150K some years back and today it's listed as a short sale at 199K... could I just send her a letter telling them I could offer her say 175K and she would just sign the home over to me?  

Originally posted by @Jennifer McElliott :

what about just reaching out to the actual homeowner to see if they'd take a cash offer so it doesn't get stuck with the banks waffling on the decision?  So in this case, I can see that the homeowner purchased the home for around 150K some years back and today it's listed as a short sale at 199K... could I just send her a letter telling them I could offer her say 175K and she would just sign the home over to me?  

You do know that "short sale" means that the Seller owes the bank MORE than it's worth, right?

Which means, there is NO avoiding getting "stuck with the banks waffling on the decision"!...

Ok so I must be missing a second or some other loan they took out other than the primary mortgage (b/c like i said, it appears to have been sold for around 150K about 16 years ago and today it's listed at 199K)  

thanks.

Originally posted by @Jennifer McElliott :

Ok so I must be missing a second or some other loan they took out other than the primary mortgage (b/c like i said, it appears to have been sold for around 150K about 16 years ago and today it's listed at 199K)  

thanks.

Yep. Sorry...

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