Let me tell you about how I wrapped up a deal involving a short sale that was going nowhere fast…

I knew sooner than later, I would be seeing the home again as a bank owned listing. I told my clients to hang tight and that I would check the MLS everyday until it appeared. Sure enough, a week and a half later it came on The MLS for $130,000 as a bank owned property. I called my clients the minute I saw it and we wrote an offer for $115,000 cash.

The very next day the bank counter offered with $117,000, and my clients jumped on it. Luckily for us, the bank also fixed some busted pipes underneath the house that more then likely the original owner wouldn’t have been able to do. The fact of the matter is that the bank held out for a month and a half, and didn’t accomplish anything as a short sale property.

Once it was a bank owned, we bought it in two days for less money and had repairs thrown in as a bonus. Bank owned One, Short sales Zero. The second situation is very similar. My clients put in an offer of $340,000 on a short sale listed at $389,000. Again, we waited patiently for almost two months while the bank had the home reappraised and numerous BPO’s done.

After two months, the bank oddly enough rejected our offer, and let the house go in to foreclosure. Again I patiently watched and waited until I saw the house listed again, but for $390,000 this time around. My clients and I agreed that the house was quite a bit overpriced, and thought it better to wait to see if the price would come down at all. We waited two weeks, the price had not fell, and we felt it a perfect time to finally make an offer.

We made a generous offer of $333,000, and sat back waiting for a response from the bank. Within a day, we heard back from the bank, and they had declined our offer again. After another week went back, and numbers were tossed around, we made a final offer of $339,000 and had it put into escrow. In conclusion, we again were able to get a better price, in a faster amount of time, when the homes we were interested in, were bank owned.

Article submitter D. Troy knows all about shopping a house for sale plus homes for sale in general. Check out more of his posts online.

Let me tell you about how I wrapped up a deal involving a short sale that was going nowhere fast…

I knew sooner than later, I would be seeing the home again as a bank owned listing. I told my clients to hang tight and that I would check the MLS everyday until it appeared. Sure enough, a week and a half later it came on The MLS for $130,000 as a bank owned property. I called my clients the minute I saw it and we wrote an offer for $115,000 cash.

The very next day the bank counter offered with $117,000, and my clients jumped on it. Luckily for us, the bank also fixed some busted pipes underneath the house that more then likely the original owner wouldn’t have been able to do. The fact of the matter is that the bank held out for a month and a half, and didn’t accomplish anything as a short sale property.

After the bank took ownership of the property, we were able to settle on a fantastic offer, and get a few repairs out of the deal as well. The second time I came across this situation it was very similar to the first. My clients in this situation, made an offer of $340,000 on a property listed as a short sale, and priced at $389,000. Again we played the waiting came for over two months while the bank had the house reappraised and had numerous BPO’s completed.

After two months, the bank oddly enough rejected our offer, and let the house go in to foreclosure. Again I patiently watched and waited until I saw the house listed again, but for $390,000 this time around. My clients and I agreed that the house was quite a bit overpriced, and thought it better to wait to see if the price would come down at all. We waited two weeks, the price had not fell, and we felt it a perfect time to finally make an offer.

We made a generous offer of $333,000, and sat back waiting for a response from the bank. Within a day, we heard back from the bank, and they had declined our offer again. After another week went back, and numbers were tossed around, we made a final offer of $339,000 and had it put into escrow. In conclusion, we again were able to get a better price, in a faster amount of time, when the homes we were interested in, were bank owned.

Article submitter D. Troy knows all about shopping a house for sale and homes for sale in the US. Read more of his articles on the web.