Many times, I've been asked "how long will it take to get a contract on my property?" and I wish the answer was simple but the truth is it depends on how agressively priced it is compared to other properties in the area. When listing a short sale, the agent listing the property will run comparable properties in the area to see what has recently sold. They will decide on the market value and determine the listing price.
Most agents, hopefully, will list the short sale property just a little "above" market value to start. I prefer this stratedgy. To me, it shows the lender that before dropping the price to get an offer, we started at a higher price then gradually lowered the price to finally get an offer. So depending on the agent's stratedgy and how often they make price changes and how the property is being marketed, will depend on how long it takes for you to get an OFFER on your short sale. For some, a month but for others ..........well, let's just say the time waiting for an offer is not SHORT!
Jeanine Corcoran
Coldwell Banker Ackley Realty
www.FLshortsalePros.com
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