It’s a gimmick – loans add up to $606,000. This tactic is being tried by listing agents to attract extra interest for short sales, but it’ll backfire on them.
Think if you were the lender – would you write off $200,000 just like that? These agents are in for a surprise when lenders object to this type of marketing.
Of course, if they offer it for $409,000 and no one bites, what does that say? And what do you tell the sellers/lenders then, with egg all over your face? Cut another $100,000 and try again?
