Short-sale Questions

[boyle_heights]

I found a short sale that fell out of escrow that I am interested in. House was purchased in 2005 at $665k. It went on the market at $429k in late 2009. It kept dropping and went into escrow at $356k. It fell out of escrow and was dropped to $346k. I talked to the sales agent about submitting an offer below listing price and was told the bank would not accept less as they would prefer to close than drop the price again. Was also told the bank is ready to foreclose as the family was only given until the end of the year to sell.

Do sales agents really know this information about the bank? Should I still submit a low offer regardless of what the sales agent mentioned?

Not sure how accurate Zillow is but it has the home valued at $440k.

I saw 3 different buyers and their agents in the short time I was at the property.

[pemeliza]

There are hassles involved, but if you get lucky you can get an amazing deal on a short sale these days. We are definitely in a market that is rewarding the patient, well informed, and hard working buyer.

edit : The best time to pounce on a short sale is late in the game and after a buyer or two has backed out.

[pemeliza]

There are hassles involved, but if you get lucky you can get an amazing deal on a short sale these days. We are definitely in a market that is rewarding the patient, well informed, and hard working buyer.

edit : The best time to pounce on a short sale is late in the game and after a buyer or two has backed out.

[pemeliza]

There are hassles involved, but if you get lucky you can get an amazing deal on a short sale these days. We are definitely in a market that is rewarding the patient, well informed, and hard working buyer.

edit : The best time to pounce on a short sale is late in the game and after a buyer or two has backed out.

[pemeliza]

There are hassles involved, but if you get lucky you can get an amazing deal on a short sale these days. We are definitely in a market that is rewarding the patient, well informed, and hard working buyer.

edit : The best time to pounce on a short sale is late in the game and after a buyer or two has backed out.

[pemeliza]

There are hassles involved, but if you get lucky you can get an amazing deal on a short sale these days. We are definitely in a market that is rewarding the patient, well informed, and hard working buyer.

edit : The best time to pounce on a short sale is late in the game and after a buyer or two has backed out.

[SD Realtor]

When you say you talked to the sales agent I take it to mean you spoke directly to the listing agent who is listing the home? If so then yes that agent will have a complete history of what went on AND what the negotiator for the short sale has been told by the investors with regards to price or bottom line. Additionally that agent should also know if there is a trustee sale date established already and when it is.

Should you submit an offer low? Depends on how badly you want the home. If you want it really badly then you may want to reconsider. If you are just so so and you like it but not love it then go ahead and fire in a lowball offer. If the offer is so low that the listing agent knows the negotiator will punt it, then they will not submit it as they will consider it a waste of time because submitting a short sale package can be a chore and at times resets the process.

[SD Realtor]

When you say you talked to the sales agent I take it to mean you spoke directly to the listing agent who is listing the home? If so then yes that agent will have a complete history of what went on AND what the negotiator for the short sale has been told by the investors with regards to price or bottom line. Additionally that agent should also know if there is a trustee sale date established already and when it is.

Should you submit an offer low? Depends on how badly you want the home. If you want it really badly then you may want to reconsider. If you are just so so and you like it but not love it then go ahead and fire in a lowball offer. If the offer is so low that the listing agent knows the negotiator will punt it, then they will not submit it as they will consider it a waste of time because submitting a short sale package can be a chore and at times resets the process.

[SD Realtor]

When you say you talked to the sales agent I take it to mean you spoke directly to the listing agent who is listing the home? If so then yes that agent will have a complete history of what went on AND what the negotiator for the short sale has been told by the investors with regards to price or bottom line. Additionally that agent should also know if there is a trustee sale date established already and when it is.

Should you submit an offer low? Depends on how badly you want the home. If you want it really badly then you may want to reconsider. If you are just so so and you like it but not love it then go ahead and fire in a lowball offer. If the offer is so low that the listing agent knows the negotiator will punt it, then they will not submit it as they will consider it a waste of time because submitting a short sale package can be a chore and at times resets the process.

[SD Realtor]

When you say you talked to the sales agent I take it to mean you spoke directly to the listing agent who is listing the home? If so then yes that agent will have a complete history of what went on AND what the negotiator for the short sale has been told by the investors with regards to price or bottom line. Additionally that agent should also know if there is a trustee sale date established already and when it is.

Should you submit an offer low? Depends on how badly you want the home. If you want it really badly then you may want to reconsider. If you are just so so and you like it but not love it then go ahead and fire in a lowball offer. If the offer is so low that the listing agent knows the negotiator will punt it, then they will not submit it as they will consider it a waste of time because submitting a short sale package can be a chore and at times resets the process.

[SD Realtor]

When you say you talked to the sales agent I take it to mean you spoke directly to the listing agent who is listing the home? If so then yes that agent will have a complete history of what went on AND what the negotiator for the short sale has been told by the investors with regards to price or bottom line. Additionally that agent should also know if there is a trustee sale date established already and when it is.

Should you submit an offer low? Depends on how badly you want the home. If you want it really badly then you may want to reconsider. If you are just so so and you like it but not love it then go ahead and fire in a lowball offer. If the offer is so low that the listing agent knows the negotiator will punt it, then they will not submit it as they will consider it a waste of time because submitting a short sale package can be a chore and at times resets the process.

[sdrealtor]

Good advice

[sdrealtor]

Good advice

[sdrealtor]

Good advice

[sdrealtor]

Good advice

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