Lakeland FL Short Sales - I'm Sorry My Client Doesn't Accept Your Low Ball Cash Offer
Working as a Lakeland Fl short sale agent there is a lot of crap to deal with day in and day out. First and foremost, I work in the best interest of my seller and so today, I want to write about what I mean. Recently, I received an offer on one of my short sales. With foreclosure inventory down in Lakeland FL, investors think they can scoop up short sales with low ball cash offers. Don’t get me wrong, I love cash buyers and whenever I receive an offer from a cash buyer I look at the terms and condition of the offer very carefully.
Price - making a low ball offer thinking that “cash is king” does not help my seller in any way shape or form. Neither will it benefit you, the buyer, because banks don’t care about if it is a cash offer if the price does not meet their expectation, hence bottom line. My Lakeland FL short sales are priced competitively and aggressively just below market value as I know from experience I can estimate what banks will accept.
Closing Date - just because your offer is cash makes the Lakeland FL short sale process faster. Not really, banks still have to evaluate the contract and that is the prime holdup during the short sale process. In addition, if there is a mortgage insurance or a HELOC (home equity line of credit) that will take additional time. The only time where the process speeds up is because you as a cash buyer don’t have to go through your lender thereby saving about 30-60 days.
Inspections - Lakeland FL short sales that I list are always sold as-is with right to inspect. As a buyer, I encourage you to have a homeowner’s inspections to include termite, septic, roof, radon and mold done to make sure that the property meets your expectations. Waiting for the seller’s lender to approve the short sale and then doing an inspection would not be in the best interest for my sellers. I would have you rather walk if you are not satisfied with the inspection before I receive a short sale approval than after the fact. Please read my article by clicking here
In this case with the the low ball cash offer, the buyer wanted to do the inspection after the short sale has been approved, stating it would be a waste of money performing an inspection prior to lender approval. Yes indeed! It would have been waste of money because the seller’s lender would have declined the short sale because the purchase offer/contract is unreasonable.
Earnest Money/Good faith deposit - Earnest money or good faith deposit must be delivered at the title company no later than 3 business days after the parties have agreed and signed the contract. What does earnest or good faith mean, it means that you don’t wait until my seller has short sale approval letter before you deposit your money with the title company.
Yes, there is a lot of crap I deal with but my ultimate goal when helping Lakeland FL homeowners with their short sales is to avoid foreclosure by having successful short sale closings. It’s that simple as we don’t accept any offer for our Lakeland Fl Short Sale listings.
If you need an experienced Lakeland Fl short sale agent working for you that can take it and works diligently and negotiates on your behalf call us at (863) 619-6918 or email brokerpetra[at]gmail.com for a confidential consultation.
IMPORTANT NOTICE: CDV Transatlantic,Inc. is not associated with the government, and our service is not approved by the government or your lender. Even if you accept this offer and use our service, your lender may not agree to change your loan. If you stop paying your mortgage, you could lose your home and damage your credit.
Copyright © 2011 By Petra Norris *Lakeland FL Short Sales - I'm Sorry My Client Doesn't Accept Your Low Ball Cash Offer *
Authored by Petra Norris
Managing Broker - CDV TransAtlantic, Inc.
(863) 619-6918
