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What is a Short Sale?...
In the most basic terms... a short sale is when the Owner of a property is trying to sell it for LESS than the mortgage amount. In this case the Lender MUST approve the sale price & terms, so time is needed to facilitate the sale. Also, in a short sale the Owner MAY NOT recover any of the proceeds from the sale.
Find something you like and want to make an offer - but just so you know -the 1st offer on a Short Sale is will find out IF the bank is willing to do a Short Sale on that particular property and at WHAT PRICE. This is the important part... THE PRICE THE BANK COMES BACK WITH MAY OR MAY NOT BE GREATER THAN THE LIST PRICE .... because remember the definition of a Short Sale is that the Owner wants to sell their property for LESS than they owe the bank!
Because the market is moving, Banks today are waiting until an offer is made, and submitted with the package before they will order an appraisal or BPO on the property. This needs to be done before they respond to your offer - so patience wins in this race.
To receive our current Short Sale Property list, just let us know the area and price range you're interested in we'll get your list out your right away. This list will include all the Short Sales offered from all the Realtors in the area, and remember this is a No Obligation, FREE service.
Thanks for the opportunity to help.
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