For a friend - I'd do almost anything. Within Real Estate everyone always talks about "competition". I don't see it that way. Here is a friend of mine's listing in Saugus CA. If you don't see it on this page, it has sold. But there are other great deals to be had.
Why are agents so scared(sometimes) of short sales? That is a GREAT question - I would venture to say it might be because they take so long from entering escrow to the Pay-check. I hope that is not the case. Most short sales are being marketed property and have a Better than Average chance of closing.
If you are wondering whether approaching a specific short sale would be a waste of time. Your real estate professional can, with a few questions to the listing agent, get you solid answers.
When it turns out that a particular "type" of short sale, like the one on this page, is not a waste of time - then have your agent move on it. Writing an offer on a short sale does not stop you from continuing your real estate search. Writing other offers on other properties without letting the seller's agent know - that is a entirely different story. Just be upfront with your disclosure and all will be good in the world.
Each and every short sale gets a couple of appraisals. Even more depending on the length of time it has been on the market for sale. Appraisals are only good for 6 months. If a short sale has been worked on for longer than that - usually the bank will send another appraiser later in the game. Plus, you have the appraiser that is from the bank that is loaning you the funds to finance the Short Sale you have an offer accepted on.
Due to the changes in Appraisal guidelines - the chances of you "paying too much" for a home, whether a short sale, foreclosure or regular sale, is nearly impossible.
Plus - the appraiser that is representing the bank who is loaning you the money - only cares about one thing - that is their bank(employer). They are not going to go above what a property is worth. There are too many levels of appraisal review. What if they went over the amount it should be valued at? If it was caught by one of the other reviewers, and the chances are good that it would, they might be standing in the unemployment line :-(
Click here for the Short Sales in Santa Clarita Valley CA - Check out the Full property description for the Short Sale on this page. If you don't see it and all you see is a "red bordered box" - then it has been sold.
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