Real Estate Short Sales: Addressing Multiple Offers

When handling a short sale with multiple offers, the highest offer or cash offers are not always the best prospects. Sellers must consider whether a cash buyer is willing to wait out the lengthy short sale process; and if the offer is from a corporation, trust, LLC, or another entity, they must determine whether the lender’s short sale guidelines will even sanction such a purchase. Additionally, sellers must factor in whether the deal includes costs for pest control, septic repairs, closing costs, or other fees not paid by short sale lenders and whether the buyer will proceed without such provisions. Dedication and loyalty should go a long way when it comes to short sale offers; and sellers should opt for buyers who are willing to bide their time, are flexible when it comes to the lender’s alternate terms and conditions, and already show an attachment to the home. | Read More