Do Lenders approve Short Sale offers at gargage sale prices?
By Lynn Pineda, Real Estate Promises delivered in SE Florida
(eXp Realty)
You would think they do when I look at some of the offers that Realtors submit on some of my Short Sale Listings here in and around Coral Springs. Aren't Buyer's Agents looking at comparables within the homes neighborhood to determine what is a good market value for a particular home? Or are they just allowing the Buyer to offer a garage sale price? Most Short Sales should be priced to move at the price they are listed so why do Buyers and their Agents feel that they automatically must low ball the list price by 20% - 25%? Lenders may want to move the property but they simply won't give it away. Greed can be a nasty thing; what about buying a Short Sale property that is probably already priced just below fair market value? No, let's not....let's see if we can milk them for even more - y...
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