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Wednesday, June 27, 2012

Short Sales in Brevard County, Florida–Setting your price…

Establishing the best listing price has always been the key compenent to selling a house or condo.

With a short sale pricing is even more of a challenge because of the additional processes (time) involved.

With a short sale, especially in a declining market, time is real money.

Unlike standard sales, a short sale requires the lender(s) approval of any offer.  Short sales involve negotiation and agreement on how to handle the difference between selling price and the loan balance. 

Because of the time involved many sellers are anxious to get any offer signed off on and the process started right away.

However, to minimize the chance of disappointment and increase the chance of acceptance by the lender, sellers need to exercise care when setting the list price.

I suggest things like...
  • Set a realistic price based on comparable nearby properties.
  • Offer a reasonable pricing discount as a way of acknowledging the the special process involved with a short sale.
  • DO NOT price under the market to get an offer quickly.
  • Price based on the real condition of your home?  What repairs need to be done?  Is your house dated?
Your goal is to get a reasonable offer the lender will sign off on and that will minimize the difference between the loan balance and the selling price.

If you are considering selling your Viera home as a short sale or standard sale, call or email me for a free market analysis.




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