Can you sell your house as a short sale if you can still make the mortgage payment?

[sdrealtor]

The short seller is typically under some hardship and doesnt want to or cant stay in the home. The current lender has the surety of getting a distressed loan off their books. A new owner comes in at a lower price and hopefully with a well underwritten loan they can afford.

That is the difference.

[carlsbadworker]

[quote=23109VC]this whole thing sounds like a big game and a lot of BS. play by the rules and you get scrwed. lie and cheat and you win…. WTF??![/quote]

When it wasn’t “play by the rules and you get scrwed. lie and cheat and you win”? Although karma does come back, just look at OJ.

[carlsbadworker]

[quote=23109VC]this whole thing sounds like a big game and a lot of BS. play by the rules and you get scrwed. lie and cheat and you win…. WTF??![/quote]

When it wasn’t “play by the rules and you get scrwed. lie and cheat and you win”? Although karma does come back, just look at OJ.

[carlsbadworker]

[quote=23109VC]this whole thing sounds like a big game and a lot of BS. play by the rules and you get scrwed. lie and cheat and you win…. WTF??![/quote]

When it wasn’t “play by the rules and you get scrwed. lie and cheat and you win”? Although karma does come back, just look at OJ.

[carlsbadworker]

[quote=23109VC]this whole thing sounds like a big game and a lot of BS. play by the rules and you get scrwed. lie and cheat and you win…. WTF??![/quote]

When it wasn’t “play by the rules and you get scrwed. lie and cheat and you win”? Although karma does come back, just look at OJ.

[carlsbadworker]

[quote=23109VC]this whole thing sounds like a big game and a lot of BS. play by the rules and you get scrwed. lie and cheat and you win…. WTF??![/quote]

When it wasn’t “play by the rules and you get scrwed. lie and cheat and you win”? Although karma does come back, just look at OJ.

[NotCranky]

Carlsbadworker. I gave your two scenarios in you post above my best shot earlier but the site timed out for some reason and lost it.

In the first one I would say you want your agents investigate the listing agents position and progress in the short sale at the least. Maybe he or she has the bugs worked out? In any case I would think there is an element or a “crapshoot” in much of this, so don’t be satisfied with no for an answer, if this is a property you want to explore.

The second case might jsut be about pricing,not “short sale”(although there could be other issues because of that too). I think it has the potential to be dealt with in a reasonable time frame even with a lower offer if you can find and present good reasons for it to be. Have your agent ping the listing agent on the willingness and ability of the three main parties on that side to perform, at the price you find suitable.

When I bought my shortsale it was a good candidate for a “shot across the bow” and I delivered it, verbally at 30% below list and eventually got it at 30% below that list but they reduced the price once in the interim ,so I got it at 15% below last list. It took around a month for those negotiations. That is a case where the lower pricing was approved at reasonable pace. Like I said and you know, you’re kind of just throwing things out there(as competently as possible). Any fool can bid full price or over.

I see you have adjusted your offer strategy from aggressive to much less aggressive for this second one. I am guessing this might be because of interest current interest rates? Or maybe because you really like it? Anyway, Based on what you have said I would suggest you think more about those comps you mentioned, about market time and traffic, at this list price. If this all lines up in the buyer’s favor then I would try to stay with your original aggressive strategy, or find some middle ground when the situation makes low-balls extremely unrealistic.There are some REO houses that are presented as “informal auctions” and some phony short sale pricing. In those cases you have to adjust accordingly too.The properties you have mentioned seem like pretty standard cases as far as pricing goes.

Be ready to be told that they have other offers on almost anything. Might be true might not be.

[NotCranky]

Carlsbadworker. I gave your two scenarios in you post above my best shot earlier but the site timed out for some reason and lost it.

In the first one I would say you want your agents investigate the listing agents position and progress in the short sale at the least. Maybe he or she has the bugs worked out? In any case I would think there is an element or a “crapshoot” in much of this, so don’t be satisfied with no for an answer, if this is a property you want to explore.

The second case might jsut be about pricing,not “short sale”(although there could be other issues because of that too). I think it has the potential to be dealt with in a reasonable time frame even with a lower offer if you can find and present good reasons for it to be. Have your agent ping the listing agent on the willingness and ability of the three main parties on that side to perform, at the price you find suitable.

When I bought my shortsale it was a good candidate for a “shot across the bow” and I delivered it, verbally at 30% below list and eventually got it at 30% below that list but they reduced the price once in the interim ,so I got it at 15% below last list. It took around a month for those negotiations. That is a case where the lower pricing was approved at reasonable pace. Like I said and you know, you’re kind of just throwing things out there(as competently as possible). Any fool can bid full price or over.

I see you have adjusted your offer strategy from aggressive to much less aggressive for this second one. I am guessing this might be because of interest current interest rates? Or maybe because you really like it? Anyway, Based on what you have said I would suggest you think more about those comps you mentioned, about market time and traffic, at this list price. If this all lines up in the buyer’s favor then I would try to stay with your original aggressive strategy, or find some middle ground when the situation makes low-balls extremely unrealistic.There are some REO houses that are presented as “informal auctions” and some phony short sale pricing. In those cases you have to adjust accordingly too.The properties you have mentioned seem like pretty standard cases as far as pricing goes.

Be ready to be told that they have other offers on almost anything. Might be true might not be.

[NotCranky]

Carlsbadworker. I gave your two scenarios in you post above my best shot earlier but the site timed out for some reason and lost it.

In the first one I would say you want your agents investigate the listing agents position and progress in the short sale at the least. Maybe he or she has the bugs worked out? In any case I would think there is an element or a “crapshoot” in much of this, so don’t be satisfied with no for an answer, if this is a property you want to explore.

The second case might jsut be about pricing,not “short sale”(although there could be other issues because of that too). I think it has the potential to be dealt with in a reasonable time frame even with a lower offer if you can find and present good reasons for it to be. Have your agent ping the listing agent on the willingness and ability of the three main parties on that side to perform, at the price you find suitable.

When I bought my shortsale it was a good candidate for a “shot across the bow” and I delivered it, verbally at 30% below list and eventually got it at 30% below that list but they reduced the price once in the interim ,so I got it at 15% below last list. It took around a month for those negotiations. That is a case where the lower pricing was approved at reasonable pace. Like I said and you know, you’re kind of just throwing things out there(as competently as possible). Any fool can bid full price or over.

I see you have adjusted your offer strategy from aggressive to much less aggressive for this second one. I am guessing this might be because of interest current interest rates? Or maybe because you really like it? Anyway, Based on what you have said I would suggest you think more about those comps you mentioned, about market time and traffic, at this list price. If this all lines up in the buyer’s favor then I would try to stay with your original aggressive strategy, or find some middle ground when the situation makes low-balls extremely unrealistic.There are some REO houses that are presented as “informal auctions” and some phony short sale pricing. In those cases you have to adjust accordingly too.The properties you have mentioned seem like pretty standard cases as far as pricing goes.

Be ready to be told that they have other offers on almost anything. Might be true might not be.

[NotCranky]

Carlsbadworker. I gave your two scenarios in you post above my best shot earlier but the site timed out for some reason and lost it.

In the first one I would say you want your agents investigate the listing agents position and progress in the short sale at the least. Maybe he or she has the bugs worked out? In any case I would think there is an element or a “crapshoot” in much of this, so don’t be satisfied with no for an answer, if this is a property you want to explore.

The second case might jsut be about pricing,not “short sale”(although there could be other issues because of that too). I think it has the potential to be dealt with in a reasonable time frame even with a lower offer if you can find and present good reasons for it to be. Have your agent ping the listing agent on the willingness and ability of the three main parties on that side to perform, at the price you find suitable.

When I bought my shortsale it was a good candidate for a “shot across the bow” and I delivered it, verbally at 30% below list and eventually got it at 30% below that list but they reduced the price once in the interim ,so I got it at 15% below last list. It took around a month for those negotiations. That is a case where the lower pricing was approved at reasonable pace. Like I said and you know, you’re kind of just throwing things out there(as competently as possible). Any fool can bid full price or over.

I see you have adjusted your offer strategy from aggressive to much less aggressive for this second one. I am guessing this might be because of interest current interest rates? Or maybe because you really like it? Anyway, Based on what you have said I would suggest you think more about those comps you mentioned, about market time and traffic, at this list price. If this all lines up in the buyer’s favor then I would try to stay with your original aggressive strategy, or find some middle ground when the situation makes low-balls extremely unrealistic.There are some REO houses that are presented as “informal auctions” and some phony short sale pricing. In those cases you have to adjust accordingly too.The properties you have mentioned seem like pretty standard cases as far as pricing goes.

Be ready to be told that they have other offers on almost anything. Might be true might not be.

[NotCranky]

Carlsbadworker. I gave your two scenarios in you post above my best shot earlier but the site timed out for some reason and lost it.

In the first one I would say you want your agents investigate the listing agents position and progress in the short sale at the least. Maybe he or she has the bugs worked out? In any case I would think there is an element or a “crapshoot” in much of this, so don’t be satisfied with no for an answer, if this is a property you want to explore.

The second case might jsut be about pricing,not “short sale”(although there could be other issues because of that too). I think it has the potential to be dealt with in a reasonable time frame even with a lower offer if you can find and present good reasons for it to be. Have your agent ping the listing agent on the willingness and ability of the three main parties on that side to perform, at the price you find suitable.

When I bought my shortsale it was a good candidate for a “shot across the bow” and I delivered it, verbally at 30% below list and eventually got it at 30% below that list but they reduced the price once in the interim ,so I got it at 15% below last list. It took around a month for those negotiations. That is a case where the lower pricing was approved at reasonable pace. Like I said and you know, you’re kind of just throwing things out there(as competently as possible). Any fool can bid full price or over.

I see you have adjusted your offer strategy from aggressive to much less aggressive for this second one. I am guessing this might be because of interest current interest rates? Or maybe because you really like it? Anyway, Based on what you have said I would suggest you think more about those comps you mentioned, about market time and traffic, at this list price. If this all lines up in the buyer’s favor then I would try to stay with your original aggressive strategy, or find some middle ground when the situation makes low-balls extremely unrealistic.There are some REO houses that are presented as “informal auctions” and some phony short sale pricing. In those cases you have to adjust accordingly too.The properties you have mentioned seem like pretty standard cases as far as pricing goes.

Be ready to be told that they have other offers on almost anything. Might be true might not be.

[carlsbadworker]

Thanks, Rustico. I think I’m turning slightly less aggressive because all the comps. All three homes sold in the last 2 months very close to this location are below its listing price. Although this is definitely a nicer house with bigger yard, it does feel like overpaying. Plus, I wasn’t planning to low-ball at all. Part of me want to offer $260K instead of $270K listing price, but part of me don’t know if it is worthwhile to have bank re-approve (listing price was approved because the original offer at the price fell off escrow) just for $10K. But it is not really easy to save $10K, I’d rather spend it on nicer furniture/appliance. It is not a popular one on redfin and median popular on ziprealty, I don’t know about the foot traffic.

[carlsbadworker]

Thanks, Rustico. I think I’m turning slightly less aggressive because all the comps. All three homes sold in the last 2 months very close to this location are below its listing price. Although this is definitely a nicer house with bigger yard, it does feel like overpaying. Plus, I wasn’t planning to low-ball at all. Part of me want to offer $260K instead of $270K listing price, but part of me don’t know if it is worthwhile to have bank re-approve (listing price was approved because the original offer at the price fell off escrow) just for $10K. But it is not really easy to save $10K, I’d rather spend it on nicer furniture/appliance. It is not a popular one on redfin and median popular on ziprealty, I don’t know about the foot traffic.

[carlsbadworker]

Thanks, Rustico. I think I’m turning slightly less aggressive because all the comps. All three homes sold in the last 2 months very close to this location are below its listing price. Although this is definitely a nicer house with bigger yard, it does feel like overpaying. Plus, I wasn’t planning to low-ball at all. Part of me want to offer $260K instead of $270K listing price, but part of me don’t know if it is worthwhile to have bank re-approve (listing price was approved because the original offer at the price fell off escrow) just for $10K. But it is not really easy to save $10K, I’d rather spend it on nicer furniture/appliance. It is not a popular one on redfin and median popular on ziprealty, I don’t know about the foot traffic.

[carlsbadworker]

Thanks, Rustico. I think I’m turning slightly less aggressive because all the comps. All three homes sold in the last 2 months very close to this location are below its listing price. Although this is definitely a nicer house with bigger yard, it does feel like overpaying. Plus, I wasn’t planning to low-ball at all. Part of me want to offer $260K instead of $270K listing price, but part of me don’t know if it is worthwhile to have bank re-approve (listing price was approved because the original offer at the price fell off escrow) just for $10K. But it is not really easy to save $10K, I’d rather spend it on nicer furniture/appliance. It is not a popular one on redfin and median popular on ziprealty, I don’t know about the foot traffic.

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