Boise Real Estate Source

head_left_image

A Buyer's Quick Guide to Short Sales - Part 4 of 5

Writing the offer

Keep in mind that in most short sale situations here in Ada County the sellers are in a tough spot – while this can be a good opportunity to get a well priced property – be sensitive to the sellers situation. There are different strategies on preparing offers. The following are items to consider:

Pricing – Does the offer allow you to come up a little should the short sale bank request a higher purchase price. Does this matter to you?

Time frames – Generally a longer, more realistic time frame that you are willing to commit to the process the seller may view your offer as stronger and may set your offer apart from others.

Inspections – Do you want to do it before or after the lender issues the approval letter? There are advantages and disadvantages to both.

Title Company & Escrow Officer – Recognize that generally the listing agent will have the title company working on the file already and making sure that the escrow officer prepares estimated settlement statements, etc. can help minimize surprises as closing nears. Having your brother's, sister-in-law's friend be the escrow officer because you want them to may not be a battle to fight if you want to win the war.

 

A Buyer's Quick Guide to Short Sales - Part 1 of 5

A Buyer's Quick Guide to Short Sales - Part 2 of 5

A Buyer's Quick Guide to Short Sales - Part 3 of 5

 

Kasey Boles, Managing Broker

REALTOR®, CRS, ABR, ePRO, SRS, SFR, GRI

 

John Boles / 208.830.6185 / johnboles@boiserealtystore.com

James Gannon / 208.570.4048 / james@boiserealtystore.com

Kasey Boles 208.830.6186 / kaseyboles@boiserealtystore.com

 

Boise, Idaho Real Estate

Search Like An Agent at BoiseMeridanRealEstate.com

 

 

This is not intended as solicitation if you are in contract with another real estate agent. 

Equal Housing Opportunity.  

 

          

 

  

 

 

 

 

Comment balloon 3 commentsKasey & John Boles • March 28 2011 12:40AM
A Buyer's Quick Guide to Short Sales - Part 4 of 5
share
Writing the offer Keep in mind that in most short sale situations here in Ada County the sellers are in a tough spot – while this can be a good opportunity to get a well priced property – be sensitive to the sellers situation. There are different… more
A Buyer's Quick Guide to Short Sales - Part 3 of 5
share
Make Sure that your Buyer Agent is on board with the short sale process. - Some agents in the Boise area don’t have the patience for short sales given the 4 week to 4 month time frame. -It is reasonable to expect your agent be willing to do the… more
A Buyer's Quick Guide to Short Sales - Part 2 of 5
share
Decide if you have the patience that will be required of you as a buyer in a short sale In being consistent with Ada County's real estate history, it will take between 4 weeks to 4 months to get a response from the short sale lender. This time frame… more
A Buyer's Quick Guide to Short Sales - Part 1 of 5
share
Preapproval Get Preapproved so you know how much you can afford and how much you feel comfortable paying for a house. This helps make sure that you are looking at the right houses and your agent can be sending you the right properties. When you see… more
3926 Basilica Way, Meridian ID 83642 - Short Sale
share
SOLD 3926 Basilica Way, Meridian ID 83642 4 bedroom, 3. 5 bathroom, 3353 square feet, 5 car garage SHORT SALE - Pre Foreclosure - Energy Star, Hardwood, Travertine, Granite, Stainless Viking Appliances, Dual Zone HVAC, 5… more
On Saving Money
share
I wrote a rough draft of this quite some time ago but never posted it. A recent experience with a client and an advertisement that I heard the other day prompted me to dust it off, polish it and finally post: On Realtors who claim to have 'saved… more
Shopping for Boise Homes Online and Idaho Buyers' Agency
share
More and more people are beginning their home searching online. It's convenient, it's easy and often you even are able to see the interior of a home through virtual tours without ever leaving your chair. A lot of things are changing in how… more
Common Issues That Arise & How I Can Help
share
There are an infinite number of things that potentially could go wrong in a transaction. However, two of the most common in my opinion include the following: 1)Results of an inspection report and the subsequent negotiations between buyer and… more
Three Biggest Mistakes When Buying A Home
share
I think that three of the biggest mistakes people make when buying their first home, the Boise Idaho area include choosing the wrong lender, biting off more than they can chew, (sometimes those two go hand in hand) and spending money or buying on… more