Let's Get REAL Estate

March 5th, 2011 4:44 PM
Well we can agree with that...sort of. If you are talking about Short Sales and Foreclosures...cash IS king! Most of the bank owned property are being underpriced to create a bidding war (and it's working!) so don't expect to get a Short Sale or an REO (bank owned) property for the asking price. And PLEASE understand that financing a short sale or REO is very difficult. Not only are lenders hesitant to finance but when cash is "the other" offer, one being financed (even for more money) is rarely accepted. Just the realities of our market here in South Florida. As I've said before...our inventory of good, move-in ready properties is EXTEMELY low and appraisals for those are tough as well. Things will adjust in time so for now we do what we can to complete those sales! We've got some great contacts for lenders who seem to be able to work miracles...give us a shout for their names!

Posted by David Daso & Robert Wilfong on March 5th, 2011 4:44 PMPost a Comment (0)

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