Chosen by Asker

I wanted to buy a short sale recently in Naples, FL. The property was in crap condition. The defaulter took the pool screens, ripped up the carpet, removed the hurricane shutters, etc. Knew the asking price, called the RE agent (I was then out of state) and stated my interest. RE says come in strong, many offers. I say, I'll be there in 2 days, have a bunch of other prop's to look at but this is my number one and will offer asking. Arrive in FL 2 days later and the RE guy won't answer my calls. Call his office several times and leave messages. End up buying my number 2 property. Couple months later, see the transaction records that show the house was bought for $20k less than I was willing to pay, and sold a day later for $10k more than I was willing to pay. My advice is to go directly to the bank that holds the note. Schedule an appointment with a bank officer and make HIM present the offer to the RE agent.

by Mike

3 weeks ago

Asker's Rating: 

If you asked them for help the way you did here, they probably didn't take you seriously. If you are serious about buying a property that qualifies for a short sale - be direct and say so. It's not a regular sale. You are negotiating to pay the loan on a property for below what is owed to the bank. It requires the bank lender's approval. It can be a long drawn out process - maybe 3-4 months or more. Leave the sarcasm at home. Most people - agents or otherwise - don't like to have to deal with the getting a property through the short sale process - much less dealing with an ingrate. Good luck.

by ClickMe- 3 weeks ago