Short sale question

jane__nyApril 29, 2010

If we are interested in a short sale and offers have been made, can my RA find out what the offers are?

Jane

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linda117117

Nope

    Bookmark   April 29, 2010 at 7:53AM
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jane__ny

Thanks Linda, wishful thinking on my part -

Jane

    Bookmark   April 29, 2010 at 10:23PM
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linda117117

Jane, you are not alone. EVERYONE, ALWAYS, wants to know what the other offer is. I'm pretty sure thats why its secret. If you knew, you could beat it by $1, if they knew, they could beat you by $1. Thats why they say, put it your final and best.

Short sales are listed below market value and there is no guarantee the bank will even accept it. If you have looked around at enough houses, you will know if the asking price is a good price. It seems to be getting better, but in my area, some of the agents are putting ridiculous prices on short sales, (way too low) getting peoples hopes up too high and in the end, it doesnt happen.

If you really want the house, have your agent do a CMA and put the offer in for true market value. You should be higher then any of the current offers and you'll have a better chance of getting the home at a great price.

    Bookmark   April 30, 2010 at 6:16AM
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