Multiple Offers On Short Sales/Foreclosures

Nothing is more disappointing than working with a buyer, especially first timers, that finds the perfect house, and they think because it's a foreclosure, they're getting a heck of a deal. (You can definitely get an awesome deal on a foreclosure, but I'm not talking about good deals.) I call the listing agent to see if there are any other offers on the table, and there are. So I advise my clients to make there highest, and best offer, so we do not get in bidding war, and they do not lose out on their "perfect home". I guess it is experience that gives me the ability to know these little details, but isn't that why people have a Realtor helping them? Because they don't know everything about what they are doing when purchasing a home? This scenario has happened to me twice now, on multiple offers, with two different first timers. (I think they now get it) but look at how much time and energy we wasted on other offers because they would not even offer asking price.


Maybe I need to sharpen my skills with getting them to understand why I know what I am talking about. I even suggested they call some past clients of mine that made 3 offers on foreclosed houses and didn't get any of them because they did not bid at least asking price. My advise to buyers when looking, and considering an offer, on foreclosed homes would be to have your agent call the listing agent, if they don't do it already (which they should) and if there are other offers on the table, offer close to asking price, especially if you are asking for closing costs.

For more info about buying foreclosed/short sale properties, go to: http://www.greenvillerealestategirl.com/


'Nothing good comes in a hurry'

Lindsay Saunders, Realtor and REO Specialist

Keller Williams Greenville Central Partners

864-607-0479

Saunders@kw.com

http://www.greenvillerealestategirl.com/

#Making #Home #Affordable #Program

I have recently been contacted by a friend, and distressed homeowner, who has lost her job, and is having a hard time finding steady work.  She has blown through her savings, and is a couple of months behind on her mortgage payments.  As a friend, and compassinate Realtor, I want to help her.  I have met with her and discussed her options: 1. Short Sale, 2. Foreclsoure, 3. Loan Modification Program ( Which in her case, I'm not sure is feasible)  Her bank has told her that she may qulaify for a loan modification if she compeletes the paper work and sends in $400, which she doesn't have.

In my professional opinion, a Short Sale would be her best option.  However, she has shared with me that she is going to proceed with the loan modification program.  I'm afraid that the $400 was to start the process and not for the completion of the modification process.  Being unemployed, or without steady income, it is my understanding that homeowners will more than likely not qualify for a modification program.  It is also my understanding that the homeowner cannot be more than 30 days late in a 12 month period on their payment.

For more information regarding the 'Making Home Affordable' program, go to: http://rismedia.com/2009-12-15/help-for-homeowners-understanding-the-making-home-affordable-program/ 
Also, confide in a Realtor you trust regarding you options, and for help.

Not in Greenville, SC area?  I can help anyone, anywhere, buy, or sell, property.

"Wisdom becomes knowledge when it is personal experience."
-Unknown

Happy Holidays!!!

Lindsay Saunders, Realtor
864-607-0479
Saunders@kw.com
http://www.greenvillerealestategirl.com/