Return to the Buying and Selling Homes Forum | Post a Follow-Up

Short sale- priced to sell

Posted by julk_1212 (My Page) on
Fri, Sep 4, 09 at 11:39

I am looking into buying a home and I decided to look online at pics and get overall idea of whats out there even for a higher price. In my area there are tons of houses that say "short sale" and "priced to sell." Ive also come accross "as is" amd "bank will need to approve for short sale" ext... Does this mean 1) I can't offer less and 2) that its harder to get and more to do because of bank approval?
With the as is, if there are problems and the asking price comes with as is, then can't i offer alot less due to those issues?

Follow-Up Postings:

RE: Short sale- priced to sell

You can offer whatever you want, getting the bank to accept it is another issue. Short sales take a long time, banks aren't real quick on accepting short sale offers. Bank owned homes typically don't take as long. If you're buying a property "as is" it just means the seller won't fix anything that is wrong with the home. I'd still have an inspection just to know what you're up against, just don't expect anything to be fixed. Sometimes the condition of the home is factored into the asking price of the home and offering lower may or may not be successful. Other times the pricing does not reflect the problems that the bank is unaware of so offering lower should be more successful. Not all bank owned homes or short sales are bargains, do your homework, know the true value, know the condition of the home and never offer more then you can comfortably afford.

 o Post a Follow-Up

Please Note: Only registered members are able to post messages to this forum.

    If you are a member, please log in.

    If you aren't yet a member, join now!

Return to the Buying and Selling Homes Forum

Information about Posting

  • You must be logged in to post a message. Once you are logged in, a posting window will appear at the bottom of the messages. If you are not a member, please register for an account.
  • Please review our Rules of Play before posting.
  • Posting is a two-step process. Once you have composed your message, you will be taken to the preview page. You will then have a chance to review your post, make changes and upload photos.
  • After posting your message, you may need to refresh the forum page in order to see it.
  • Before posting copyrighted material, please read about Copyright and Fair Use.
  • We have a strict no-advertising policy!
  • If you would like to practice posting or uploading photos, please visit our Test forum.
  • If you need assistance, please Contact Us and we will be happy to help.

Learn more about in-text links on this page here