Fresh Meadows, NY · Member since 2011 · 12 posts · 0 votes
I see a lot of short sales on my MLS. Just curious if anyone specializes in buying (unapproved) short sales listed on the MLS?
The obvious advantages over a typical short sale transaction is that you don't have to negotiate with the bank...the seller already has an agent who is obviously prepared to do that. The obvious disadvantage is that the agent may not be any good at it.
I'm thinking about making some low offers on short sales that are on the MLS. Any thoughts, suggestions, ideas, warnings, encouragement, etc is appreciated! Not to mention any suggestions on figuring out what the bank may accept and how to increase my chances of getting the bank to accept an offer.
Real Estate Investor · Brooklyn, NY · Member since 2011 · 5 posts · 0 votes
15y
From my past experience. It is a waste of time. Banks would know what they want for the house. Short sale means the bank probably would look at your offer then refuse it. Remember that usaually this requiers to show proof of funds. Try going to the bank website, and search for reo's.