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Are Short Sales Good Deals?

 Many people reach out looking for short sales as they think that means they are going to get a screaming deal. The truth of the matter is that not all short sales are good deals. Some are actually poor opportunity, others good, and they can be great as well! It really depends on the circumstances and there is no way to know if a short sale will be a good deal without attempting a review. Servicers want offers around AS-IS value of the property based on their analysis. Sometimes there analysis is high, other times low, or it could be on point.

With this being said sometimes servicers will let property’s go for less than what they can truly be worth, especially since they do not calculate value add opportunity. Short sales are sold as-is based on their current condition for the servicer to try to recoup as much funds as possible to the investor. It all comes down to the servicers valuation and the investor guidelines on what a short sale property can be purchased at. It’s a hit or miss situation. Sometimes you strike out and other times it can work out well, they are very circumstantial situations involving each particular property and review.

A short sale, probate, bank owned home, or any other type of distressed sale does not mean a buyer is getting a good deal. A good deal is a good deal and that comes down to the numbers and potential of the asset, not the sale type.

If you need short sale help or have questions, please fill out the form below or call 1-800-692-9960 and a specialist will be in touch with you shortly.

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