We’re Getting Low Balled!

That’s kind of the point of a short sale.   The bank is going to take less than what they owe.  Most GOOD short sale specialists will negotiate with the bank so that the owner doesn’t owe anything else once the short sale is complete.  My question is, what difference does it make if you have an offer?

Obviously, the bank is not stupid… or is it?  Have you watched the news!?

If the Bank is going to take 90% of what the house is worth and the home is worth $300K, then a $270K offer isn’t low balling, it’s legitimate.  

Now some banks will take less than that.  Some may agree to 50%.  You never know unless you ask. 

Real Estate Agents care, because their commission goes down.  If you are offerring 50% of the list price, their commission just went down by 50%!

Home Owner shouldn’t care, but if they do it’s due to a lack of understanding. 

So yes, I have Atlanta Short Sale Listings and yes, my clients get low balled… and they love it! 

Because ultimately they close!

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