sacramento short sales
If I didn’t know this was 2018 and not 2008, I would pinch myself and be happy we are not dealing with the attitudes of Sacramento short sales. Although, I did receive a call about a property in Elk Grove that was listed a bit over $400K, which suddenly dropped to $330K. The caller asked me if I thought $340K would work as an offer, so we had to discuss how short sales work. Why a bank would accept an offer, and how banks look at their BPOs. Still, I could work the comparable sales to arrange for a pretty good value that we could substantiate, but then the buyer never called back.
Although it is rare nowadays to list a short sale because there are so few in Sacramento anymore, it doesn’t mean I change how we handle a Natomas short sale offer. The same rules apply, same principles and same practice. I know there are other listing agents who might grab the first Natomas short sale offer that comes along, but that’s not how I advise my sellers.
Having sold more short sales than any other agent in a 7-county area over the past 10 years, my experience as a top Sacramento short sale agent speaks volumes. We don’t want to drag the process out any longer than necessary. If the buyer refuses to conform to the practices we put into place, they are not a viable buyer for us. It blows my mind that buyer’s agents fight us, but they often do. They don’t think ahead, they don’t stop to consider the harm they cause, to the seller and the listing agent and everybody else in the transaction, when their buyer is not fully committed to the process.
Because agents rarely write a Sacramento short sale offer nowadays, especially if there is a similar home that can close escrow sooner, it is not unusual for an agent to overlook how a seller and her listing agent may view the terms submitted. In fact, now that I think about it, many agents, it seems, tend to ignore the other side of the transaction. They don’t always think ahead or consider how the offer might be received, you know, they seem incapable of predicting how the seller may react. They just know what they hope to accomplish when they barrel forward, guns blazing, and then wonder why their offers are continually rejected. Must be somebody else’s problem, not theirs.
Home buyers absolutely should hire an experienced Sacramento short sale agent to buy a short sale, there is no doubt about this fact in my mind. I don’t say this simply because I have listed (and therefore sold) more short sales over 7 counties than any other agent, which makes me the top Sacramento short sale agent in this area. By a wide margin. I say this because agents who don’t deal much with short sale banks and are not on top of the new laws, are placing their buyers in a disadvantaged position.
Even through our fast and furious Sacramento short sales over the past 10 years, banks still do not care about your short sale, and it amazes me that people expect a bank to care about individuals. It’s not just the buyers and sellers who want the banks to care about them, it’s their real estate agents, too. They search frantically for answers, for logic based on their limited experience, and they just want somebody to explain common sense to the bank. If only the bank knew . . . they cry.