Rocklin Short Sales-Is the Buyer’s Offer Too Low?
It’s a short sale, not a fire sale! Many real estate agents will convince you to accept any short sale offer that comes to you. Bad idea! In order to have a good chance at a short sale approval, you must have a short sale offer that is more attractive to the lender than a foreclosure.
What short sale offer should you accept? Your Rocklin short sale expertshould provide you with the most recent comparables in your neighborhood. Take the lowest comparables and knock off 5%. Lets say that the lowest comparable to your Rocklin home sold last month for $300,000. Do not accept an offer lower than $285,000.
The banks will get their own appraisal and see that your Rocklin home is worth much more. They will reject your buyers offer and now you have just wasted a month or two with a bad offer. You have less time to find a new buyer and avoid foreclosure.
The right Rocklin short sale agent will work with you to properly negotiate any offer that you receive to get ‘highest and best’ from each potential buyer. This ensures you are presenting the best possible solution to your lender.
Find out if you qualify for a Rocklin short sale.
Rocklin Short Sales-Is the Buyer’s Offer Too Low?
Posted by Allan Sanchez Rocklin Real Estate Agent www.AllansHomes.com Rocklin Short Sale Agent
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