admin | November 16, 2008
Hi - Welcome to our daily Clearwater Real Estate. We have serious buyers these days - but if
you're selling - prepare for a haircut. We've seen bidding wars on really good deals, but otherwise - look out....
Short sales can be tricky. When an owner owes more on his house than it is worth - he creates a hardship letter and presents it to the bank. The bank usually responds by telling the seller to bring them an offer and they will consider it.
Until an offer has been brought and responded to by the bank, the listing price on the MLS has not been validated. It is simply the listing agent's best guess of what the property is worth.
The short sale process often takes month - so you really have to be patient.
The best deals are from "bank owned" - where the seller is now out of the picture and the property has been reposed by the bank. Banks can make quick decisions and often sell such properties at substantial discounts.
Visit our websites at Clearwater Real Estate and Tampa Real Estate
you're selling - prepare for a haircut. We've seen bidding wars on really good deals, but otherwise - look out....
Short sales can be tricky. When an owner owes more on his house than it is worth - he creates a hardship letter and presents it to the bank. The bank usually responds by telling the seller to bring them an offer and they will consider it.
Until an offer has been brought and responded to by the bank, the listing price on the MLS has not been validated. It is simply the listing agent's best guess of what the property is worth.
The short sale process often takes month - so you really have to be patient.
The best deals are from "bank owned" - where the seller is now out of the picture and the property has been reposed by the bank. Banks can make quick decisions and often sell such properties at substantial discounts.
Visit our websites at Clearwater Real Estate and Tampa Real Estate
Posted 1 year, 11 months ago on November 16, 2008
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