Short Sale SellersHow Much to Offer on A Short Sale?
If you plan on making an offer on a short sale, you should make sure you have a lot of time on your hands as it can be a long and arduous process. Agents will usually price homes well below market value to get offers on the home and even pick up buyers name for potential clients (leads!).
If you want to get a great deal on a home without too much hassle, talk with an agent. Prices range significantly from area to area.
With some many foreclosure properties on the market, unless you are in total love with the location, floor plan and house, that another home cannot offer, you’ll be working extremely hard to get a better deal on a short sale than if you bought a foreclosure property through the courts.
Typically the lender will not disclose their bottom line, so real estate agents can price it wherever they want to generate interest in the property. So an agent can pick any price and the lender can reject or counter all offers coming in.
Make sure to do your homework on the area and bid the price that you would be willing to buy the home for, regardless of what the listing price is.