Buyers today have many homes to choose from with the majority of the homes being offered for sale in our area either REO or short sale listings. Determining which homes to preview and make offers on will depend on many factors. Potential homebuyers will want to consider everything before making an offer.
With an REO listing you can reasonably expect a closing within 30-45 days, depending on your choice of financing and other contingencies. Often times there are multiple offers, and banks will select the highest and best. It is usually not disclosed how high other offers on the home are, so for that reason you should always make the very best offer price you are willing to pay for the home. In certain areas and situations REO houses will sell for higher than asking price.
With Sort Sale- bank approval may take from 1 to 4 months, depend on many different factors that you have no control over, with no guarantee that the bank will approve the short sale terms. If you are limited by time you might wish to look at Foreclosed houses.
Talk to one of our agents to determine the best homes for you to be viewing. We can help take your criteria and match it up with the very best homes for sale throughout the area.
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