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Wednesday, August 17, 2011

Beware of the highest offer in a short sale,it could cause foreclosure!

Beware of the high offer in a short sale,it could cause foreclosure!

A short sale specialistThink twice before jumping to accept the highest offer on your short sale. The offer that comes in at asking or near it may really be the better offer for your home. In a standard sale and market our eyes always dart to the offered price on a purchase contract. With a short sale you need to think differently.

Here is just one reason to maybe reject that offer......

You accept the highest offer and you & your agent work hard for months to get the short sale approved by your lender.

Your lender of course accepts the offer and out comes the approval! Hooray! Not really. If this buyer walks away from this deal,and they do! Your stuck with and overpriced listing & short sale approval. You may now be out of time. Foreclosure could be next.

Think about it. This is just one of many reasons to review all offers & NOT jump at the highest one.
Beware of the high offer in a short sale,it could cause foreclosure!  

Posted via email from Temecula Short Sale Specialist