A fortunate aspect of listing so many short sales in Sacramento is the fact that I get to see how other agents write offers on short sales. Some of my short listings each receive 10 to 12 offers. I try to help buyers' agents when they call by explaining that they need to check the comparable sales before writing an offer and base their offer on the comps.
One agent said to me yesterday, "What are comps?" Another sent an offer with one price at the top, a different price at the bottom and no loan information in between. Almost all contained requests for pest completions, home warranties and other demands that most banks won't pay.
Well, last weekend I showed homes in Natomas to first-time home buyers, and we wrote an offer. I share the following listing agent's response with you, not to boast but to show you why you want to hire an experienced short sale agent when writing offers on short sales:
"Hi Elizabeth: We had a multiple offer situation and I'm happy to tell you that your buyer's offer was chosen. The seller should be sending it back to me signed within the next hour or two and I'd forward the executed contract to you. All 7 offers were over the list price, but the seller chose yours mainly because you have experience with short sales and have educated your buyer.
Also, you wrote the cleanest contract and the only one that did not require a counter offer."
The people I feel for are those other 6 buyers who now join the ranks of hundreds of other unhappy and rejected Sacramento buyers.
The Short Sale Savior, by Elizabeth Weintraub, coming May 15th.
Photo: Big Stock Photo
Elizabeth Weintraub is co-partner of Weintraub & Wallace Team of Top Producing Realtors, an author, home buying expert at The Balance, a Land Park resident, and a veteran real estate agent who specializes in older, classic homes in Land Park, Curtis Park, Midtown, Carmichael and East Sacramento, as well as tract homes in Elk Grove, Natomas, Roseville and Lincoln. Call Elizabeth Weintraub at 916.233.6759. Put our combined 80 years of real estate experience to work for you. Broker-Associate at RE/MAX Gold. DRE License # 00697006.
Photo: Unless otherwise noted in this blog, the photo is copyrighted by Big Stock Photo and used with permission.The views expressed herein are Weintraub's personal views and do not reflect the views of RE/MAX Gold. Disclaimer: If this post contains a listing, information is deemed reliable as of the date it was written. After that date, the listing may be sold, listed by another brokerage, canceled, pending or taken temporarily off the market, and the price could change without notice; it could blow up, explode or vanish. To find out the present status of any listing, please go to elizabethweintraub.com.