Q&A: Interested in a house listed as a short sale? What are some tips?
Question by @!#$ %^&*: Interested in a house listed as a short sale? What are some tips?
The house is on sale for $ 139,999. I am planning to offer $ 120,000. This house has been on the market for about a month. I have an appointment this Sunday to actually go inside the house and look around. So far, I like the house. The seller claims to have fixed mostly everything inside and outside the house, and it looks like the claims seem to be true from the pictures. What are some useful, good tips? Should I reconsider this? What are some advantages and disadvantages? Please help. Thanks!
Best answer:
Answer by NaturesDoctor
Banks rarely want to take less than the offer for a short sale, one month is not long on the market, they will wait a few months before they accept a low ball offer. Check the comps in the neighborhood, are their a lot of homes on the market, or a few? Is the owner still making the payments? If yes, the bank has no incentive to sell the home quick.
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