San Jose Short Sales
Agent Short a Full Deck?
It makes perfect sense that a seller or home buyer may not clearly understand short sales. It seems that I find myself explaining short sales on a daily basis.
What baffles my mind are the Agents who write offers on short sales and believe that because the offer is ALL CASH the Banks will allow the property to be sold significantly below market value.
Adding to my confusion is why an agent would submit an ALL CASH offer in December 2010 and provide a letter from the bank dated 6-25-2010 which verifies LESS funds than the all cash offer price. Not only is the verification of funds letter nearly 6 months stale … I’m wondering if the agent understands San Jose short sales.
To be clear, when a lender approves a short sale, the lender agrees to accept less than what the seller/borrower owes on the property provided the offer to purchase is a fair market value offer and is supported by a loan approval letter and proof of funds to close the transaction.
Buyers making offers on short sales need to choose an agent who understands the short sale process. and how to write an offer.
San Jose Short Sales Listing Agent, Kathleen Daniels is committed to helping homeowners avoid foreclosure. It is important that only strong offers be considered and that the buyer and the buyer’s agent understands the process … short sales are no joking matter.
Call 1-800-972-1822 for a free consultation to discuss your options!