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Write a Killer Short Sale Offer! Sacramento Short Sale Specialist Helps Your Short Sale Offer Stand Out!

How To Write the Killer Short Sale offer In Sacramento

Courtesy of SacramentoRealEstateTalk.com

Sac Placer ED Counties Short Sales 03 19 10
Sac Placer ED Counties Short Sales 03 19 10

Another Sacramento Certified Short Sale and Pre-Foreclosure Specialist Report:

If you want to buy a home in the Sacramento area; you’d better get honed up on Short Sales! In some Sacramento area neighborhoods, short sales represent way over 75% of the inventory of active homes for sale.  Short sales are getting easier to get approved so Short Sales are going pending much faster now too.  As our Sacramento real estate market evolves; short saleswill continue to be approved faster, smoother and more efficiently.  Buying any home that represents a great deal in our market is not easy.  Well priced homes are selling with multiple, many times over asking price offers, whether it is a short sale, REO or equity sale; buyers all appreciate value and want a great deat. Buying a well priced homes here  has become just as competitive as the hottest of sellers markets the area has ever seen.  So as Sacramento area short sales become less of a  ‘crap shoot’ and more of a legitimate, clearly defined and predictable part of our market, it is becoming more and more important to  know how to write a  killer short sale offer.

Sacramento Short Sale sellers and their agent’s know that the final decision is being made by the bank and that there is no real reason to counter an offer when it comes in, but well priced short sales will generate multiple offers that will give the sellers and their agents the opportunity to ‘sort through’ and pick the offer most likely to close.  That’s the offer you want to write; an offer that represents the best chance to be chosen as THE  winning offer from the seller; one that will compel the seller,  let him know you are willing to ‘hang with it’ and wait for an answer; even if it takes a few months. A winning offer is written in a way the bank will have no reason to counter it and that will be easily accepted by the bank.

One way to be taken seriously as a short sale buyer is to put in your offer that your deposit (at least $1,000) be cashed and the money be held in escrow for up to ninety days. That is commitment. You are asking the seller, the listing agent,  and the bank to commit; to spend a lot of time, a lot of resources on your offer; let them know you are committed to the property! I can’t tell you how many times buyers have walked from a short sale after we have  done all the work, spent all the time and finally gotten it approved. When this happens, the seller and listing agent have to start over, find another buyer and you start back at the end of the line most of the time…

If this is not absolutely the right home for you– don’t waste yours and everyone else’s time! Short sales take time, take patience, they are not for everybody becouse they are not easy!~ if you don’t have time, or patience; go find an REO or an equity sale!

Here is a link to offer instructions and our custom  addendum that can be found on one of our great sister sites;  realestate-sacramento.net that helps agents writing offers on our short-sales to write the best offer for their clients;

More questions?

Contact us Today At Forth Hoyt’s Sacramento Short Sale Center

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Forth Hoyt has dedicated himself to helping distressed property owners. He has spend hundreds of hours learning from the pre-foreclosure experts and has obtained several designations in this field.  In an effort to offer his clients the best possible results with their short sale transaction…

Tips How to Submit a (Good, Clean) Short Sale Offer

1)      Include our customized version of the CAR Short Sale Addendum

2)      Include an As-is Addendum with your offer

3)      On page 1 of the contract

1.D   Close of Escrow 21 days or sooner after 3rd party approval

(see SS Addendum) where it ask for COE Date

2.C (2)   Be sure and “check” FHA or VA if your buyers loan is

a FHA or VA loan.

2.D   If requesting closing costs assistance please do so on

these lines, in this format.  “Seller’s lender shall credit

Buyer “X” dollar amount of “X” percent of sales price

towards Buyer’s closing cost including but not limited to

the costs of items 4.A – 4.E on page 2 of the contract.”

4)   Page 2 of the contract

4.A  (1) Most banks will pay for Pest Inspection, However,

they will not pay for any  Section 1 repairs.

4.B  (1-5) With the exception of Chase, most banks will pay for

these inspections. Not Repairs.

4.C  (1-2) Most Banks will pay for these Government

Requirements.

4.D  (1-2)  Please mark all closing costs as being paid for by

the Buyer. (we’ll address how to ask for those

appropriately on page 1 if the Buyer needs

closing costs assistance)

4.E   (1-2)  Please mark paid by Buyer. These cost can be

added into Buyers closing costs.

4.E   (3-4)  Most banks will pay all fees associated with

HOA’s.

4.E   (5-6)  Do not request the bank to pay for a home

warranty. If the buyer would like a home

inspection, mark “Buyer to Pay”.

5)  Page 3 of the contract

8.B   (1-5)  Unless included in the MLS listing, all personal

property items are not included in the sale.

6)  Page 6 of the contract

25.E   Add Short Sale Addendum and Addendum A.

Be the first one there, write a good, clean offer!

More questions?

Contact us Today At Forth Hoyt’s Sacramento Short Sale Center

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