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