Today we’re going to share how to determine the list price when short selling a home, in Santa Clarita, or anywhere in California. If you’re the homeowner planning to short sale your home, it’s important to understand your circumstances with regard to determining your listing price. For help buying or selling your short sale contact Matt Gregory today.
Call Matt at 661-347-6955.
Short Sale Home Listing Price and Offer Acceptance
When selling any home, the homeowner can set the listing price at whatever value they wish. It’s no different with a short sale, except the circumstances are much different than a standard sale. With a short sale transaction it’s the lender making the final decision to accept or reject the submitted offer. The homeowner has no impact on this decision. Yes, the homeowner makes the decision rather or not to submit the buyer’s offer, but once the offer is submitted to the lender, it’s no longer the homeowner’s decision to make. Contact us today and we’ll explain exactly, how to determine the list price when short selling a home.
When Buying a Short Sale It’s Best to Disregard Listing Prices
often times, the listing prices we see for short sale properties must be ignored. The listing prices for short sale homes are usually determined by the homeowner’s time frame. If he or she waited too long to short sale their home and is facing a foreclosure date, they will likely list their short sale home at a price well below market value. On the other side of the fence, home buyer’s need to be aware of this. Typically, lenders will not settle for prices too far below the market value, but you never know.
The Lenders Decision to Accept or Reject Offer is Sometimes Based On Hidden Factors
With lenders, you never know what their reaction will be to a short sale offer to buy. In fact, sometimes is seems like the lender is not interested in settling, and just want to foreclose! Other times, it’s completely the opposite. We believe the lenders actions are sometimes driven by their own behind the scenes business management strategies, and not so much on the market value for the short sale property. They’re playing all sorts of games with their assets, cash on hand, taxes, etc. You’d have to be a business wiz to even begin to comprehend their actions or understand the criteria used for making final decisions with a residential short sale property.
Get Help to Buy or Sell a Short Sale Property
As a certified distressed property expert, Matt Gregory and his Gregory Real Estate Group have helped many friends and clients to avoid foreclosure and short sale their homes. These transactions can be difficult, complex and time consuming, but the more challenging they are, the more we like it! Contact us today for immediate assistance!
Call Matt at 661-347-6955.