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• On the article What Exactly is a Short Sale?

  

  Scott Lacy

  9:37 am on Tuesday, March 13, 2012

  Kim,
  The buyer can make an offer of any amount that you wish. Keep in mind that the bank has guidelines that they must follow. They will do their own evaluation of the "market value" of the property. Once that market value is established they can only accept a certain percentage of that value. The banks net includes the price, less any other costs, such as closing costs and realtor commissions. If the seller accepts your offer, it will then be contingent on the bank saying YES to that number. In your example, tha bank may come back and say the lowest they will accept is $135,000. At that point you must decide if that works for you. In dealing with a short sale I highly recommend having a Realtor, to guide and advise you. If you have any questions you can email me at scottlacy@kw.com or call me on my cell at 770-722-5129

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