Thursday, April 25, 2013

Short Sales in Brentwood TN 37027

Someone help me out here, I am struggling to understand some of my fellow REALTORS and their buyers here in Brentwood TN 37027.  I have a lovely home listed as a Brentwood TN short sale.  It is a approved, cooperative short sale with a list price (lender approved and directed) of $485,000.  Yes, the home needs some work, but why in the world would someone offer $345,000.00 when they knew I already had an offer of $460,000.00??? 

Why do REALTORS  not do a better job of educating their buyers on the logic and structure behind the sale of a short sale home?  I have worked hard to educate my short sale buyers that going after a short sale is not a way to get way more house than you could ever possibly afford without the short.  That becomes a recipe for disaster as the day to day expenses of running a home otherwise way over your budget eventually catches up to you.  Rather, when looking at a short sale, stay within the general confines of your budget, maybe a little over and go and get a really good price for that home.

example   bad way    only approved for a loan/purchase price of $400,000  don't go looking at $500,000 - $700,000 and try to get it for $400,000.

correct way  same approval as above, look at homes priced at or below $425,000.  assuming that the listing agent knows what they are doing, you might be able to get this short sale home for $375,000 - $400,000

Give me a call if you need to list or want to buy a short sale home in Brentwood TN 37027
by Mike Conrad

short sale homes in Brentwood TN

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