In real estate, PRICE is the “make-or-break” factor.

Consider this. Besides the image, what is the first thing you pay attention to in a home listing? Some look at the floor area to ensure the property can accommodate the entire family, or the list of upgrades made around the house to see if they’ll get more out of the deal.

But let’s be honest—before we start reading the other details, we always check the price tag.

Why The Term Short Sale?

If you think it’s because short sales are significantly faster than the traditional way of purchasing a house, then I hate to break it to you. That’s simply a huge misconception. The word “short” has very little to do with the process. Plus, not all of these transactions are closed that quickly. Some take several months to finish!

So what does it refer to? Well, it’s actually about the PRICING. In a short sale process, the owner sells a piece of property for an amount that’s lower than its mortgage value. Simply put, it’s a type of real estate transaction wherein a homeowner is “short” of the money required to make a full mortgage payment.

How Do We Price Our Offer?

Just to give you an idea, here is our banks come up with an offer. Because it takes at least three (3) months for them to close a short sale, the amount depends on their pending sales. They also hire an agent to conduct an assessment of your home value based on neighborhood prices.

In our case, we skip the agent part. You see, I had a successful career in the commercial banking and mortgage industry before I got into real estate. That job experience equipped me to assess home values effectively and in a FAIR manner.

My team follows an extremely simple guideline when pricing properties. First, we look at the location of the home. Is it situated in an attractive neighborhood? How much are the home values within its area? Then, we consider its condition. Does it need renovation or repair? How much will we spend to make it profitable?

Do Your Own Research On Short Sales

In our case, I train my short sale agents to be an open book. Each home is different, so making an offer based on a fixed price range is definitely ineffective. Instead, our goal is to come up with a reasonable price that would be beneficial to both parties. Win-win.

An important advice to those considering to sell their home fast—do your own research! There are companies and agents that will take advantage of your financial situation if you don’t have enough knowledge of the short sale process.

To help homeowners like you, it would be my pleasure to share my expertise in doing short sales. Since I became principal in our company, I’ve closed more than a hundred purchases and sales! Don’t worry, this service is for absolutely free. Just fill in this form on our website: https://www.516sellnow.com/get-a-cash-offer-today/