Tuesday, August 4, 2009

Smart buyer knocking on short sales & REOs

Okay ... so I am on a kick of YouTube-i-cus ...
I love music and it fires me up.

Today is smart "Knocking on Wood" ... because sometimes we need to create your luck to find your treasure these days in real estate and sometimes you have to be knocking in the right place with the right tools.



So a repeating theme lately for Steve is luck created ... he does a great job getting your offer seen, but obviously how the seller proceeds are out of one's direct control. Discuss with Steve, "how can I achieve what I desire in a home both in it's structure and location at "x" price."

Banks don't always respond the way and in a time frame you want them to ... Not all banks work the same, not all short sales execute the same ... also is there more than one bank involved, liens, etc. Also there is that little tidbit with financing called an appraisal too ... Realize this is business and not personal ... if you have that in your head, then you are ahead of many in the home battle. Put your emotions aside and push ahead with a business attitude. Find the home with your mind, heart to solve functionality and life issues, but when it comes to writing the offer ... bust out that business buddy hat and "bring it."

Bank-owned (REO): Some banks take seven days to respond to an offer, others might be same day ...
Short Sale (ss): Some can respond in 30 days, some can be already pre-approved, others can take months and months for just a response and/or approval.

Does "bring your highest and best offer" have you twitching? Keep control, do what your financially comfortable with cross-referenced with is THIS the home for me? Don't let this language set you into a frenzy. It IS scary to not know what's going on and not having an absolute resolve. But answer this: will I be okay the day after the property closes, both emotionally and financially and feel as though I did the right thing?

Remembering what is your "forever house" and what is a "stepping stone" often helps many. Granted you never know what tomorrow or today holds, but keep in mind ... we cannot achieve the world in one day.

Steve has had great luck with bank-owned listings and short sales. More than I could have ever imagined as Steve's RE assistant and marketing gal. I am not shocked, but I feel grateful we continue to thrive in this current real estate environment.

If Steve can help you in any way in your real estate needs or real estate questions ... just knock ...
916-308-2446

No comments: