Short sale properties can be a great source of income for investors and a great deal for property buyers. It’s important to keep in mind that a short sale is when the bank has approved a loss on a current loan. They’re losing money, so they want to unload.
Generally, the current owner is in a rough time or wouldn’t face the property’s loss. We are legitimate homebuyers in Georgia, and we can help you. Difficult times mean tremendous amounts of stress and emotional turmoil. We buy houses in Marietta Georgia (Cobb County), and here’s the answer on How to Bid On a Short Sale Property?
How to Bid On a Short Sale Property Marietta GA?
Managing relationships is always the key to any negotiation.
For the bank, a short sale is an unemotional transaction. An owner may be letting go of a property with great emotional significance.
You’ll have to take different approaches with every party to a short sale transaction to get the best result.
Data is on your side. Look up comps to get an accurate picture of the market, and seek out justifications for your offer prior to submitting a written bid.
In a short sale, you have to get an agreement from the owner and the bank(s) involved in the purchase price and the terms.
Getting written permission from the owner to discuss terms with the bank can be really helpful, but check with a good lawyer to make sure you have the right documents before you ask the seller to sign anything that might violate Georgia law.
Your relationship skills are super important during this process. The bank will often require days, even weeks, to respond to offers and move forward. Often they request additional BPOs (Broker Price Opinions) or modify appraisals, and they sometimes like to involve different negotiators.
“I Want To Sell My House In Marietta GA”
It can be intensely frustrating, so prepare yourself and don’t stress.
Get fully approved for any loan you plan to take long before you make an offer. Make sure your lender can close at the drop of a hat because once the approval comes for the short sale transaction you need to be ready for escrow.
We are local Marietta home buyers and we offer cash for houses in Marietta GA in any situation. We secure properties via short sales, and we work with many investors and buyers who are looking for great deals on properties in the Marietta area. We will make the process simple so you can quickly sell your house fast in Marietta and move on.
Give us a call (678) 710-6130 or get in touch anytime to find out how we can help you!
Greg Kurzner, is CEO of Resideum, Atlanta’s Professional Homebuyer company. Greg has been a force in Atlanta real estate for over 30 years. He has been involved in the sale of over 1 Billion in real estate transactions in his career and consistently ranks #1 in sales by units by Atlanta Realtor Association. In addition to Greg being a licensed real estate broker, he is also a licensed general contractor and a nationally-recognized expert in investment real estate.