Cape Coral Real Estate Brokerage | SW FL Property

I'm currently working with buyers who are looking for .... what else...A GOOD DEAL. They are looking for buying a bank owned or short sale property.

Unfortunately many agents in our market place think they know how to handle a short sale when in fact, they have no clue. Yes, sometimes it is just plain difficult to deal with the lenders & they tell you things & then change their minds, etc. But you still need to know the basic steps & requirements to handle a short sale.

Many agents think it is just as simple as making up a price, getting an offer & submitting it to the bank.

Thats NOT how it works.

You have to price the property at or just below true market value. While the bank may allow for a sale under market value they are not going to let the house go for half of the market value.

You have to get all of the seller's documents pulled together. A short sale is based upon a hardship. Why would the bank agree to take such a loss if there is not a reason?

You have to support your listing price & if the property needs work send estimates with the package.

The people working at the banks haven't seen the house, they probably have no clue about the condition or about the market locally. It is your job to educate them.

Then you have to make sure you are in contact with the right person & make sure they have everything they need.  Let them know that you are here to help them. Follow up is key & CRITICAL.

If you need a home in the next 60 days we highly recommend NOT looking for short sales. If you need 3-6% back for closing costs - a short sale may NOT be for you. If you are not pre-approved or have cash to close then a short sale is NOT for you (although you need to be pre-approved first to buy any house).

We obviously have many great short sale properties for sale & have negotiated some great deals for customers but it may not be the best option for many buyers.

Contact us to learn more about properties we have available for sale in & around Cape Coral, Florida.

This week, for example, we closed on a brand new 4/2/2 in NW Cape Coral. Yes, it needed appliances but for $120,000 how can you go wrong? We have a couple of other great deals pending right now we'd be happy to share with you.