Comments on: Short Sale? What To Expect When You Get An Offer

By: Kris & Kim

Kris & Kim — Thu, 11 Jun 2009 00:49:33 +0000

I’m not familiar with MLS regulations in Texas, but here in California when a home is a Short Sale it is listed that way in MLS. I do understand your frustration with wasting time. Here, an agent is supposed to put a property on back-up when an offer has been selected and sent to the lender for approval. This means that offers are still accepted, but your offer is not the primary offer submitted for approval. Often times in Short Sales, buyers lose interest due to the lengthy process times or find other properties during the approval. Back up offers are then contacted to find out if they are still interested in the property. When we are working with buyers interested in Short Sale homes, we ask the selling agent a lot of questions before placing an offer. One of the questions is how many back-up offers are in front of us? This helps the buyer decide if it’s worth the wait or a waist of time to write “another offer” that won’t be considered.

By: Short Sale home was not listed as such

Short Sale home was not listed as such — Wed, 10 Jun 2009 23:01:25 +0000

I searched for a home in Texas and found one that I liked. Sent in an offer for the house to learn that because the house was up for short sale my offer was not accepted. Had i known beforehand i would never had sent in that offer. Should the house been listed as such rather than to waste my time and effort only to learn later that the house was a short sale home. To my idea of thinking, this was very deceptive. What do you think?

By: KrisBelucci

KrisBelucci — Tue, 02 Jun 2009 10:58:00 +0000

Hi, cool post. I have been wondering about this topic,so thanks for writing.