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Matlacha, Pine Island, Cape Coral and Ft Myers Homes and Real Estate
Short Sale and Foreclosure Search
This page is updated daily so you can return everyday to see new properties that are available for purchase.
Making an offer on SHORT SALES-
The Federal Government and Lenders are working to implement the new Short Sale program which will hopefully streamline the process. The new program goes into effect in April of 2010. There is a lot of misinformation regarding how long it takes (on average) to negotiate a short sale with a lender. As a full-time real realtor who negotiates directly with lenders for people who find themselves in the process of being foreclosed upon, the most important thing to know is that the offer has to be inline with fair market value if they want the offer to be considered. While quick negotiations do happen from time to time the typical negotiation is much, much, much longer. Hopefully the new process will cut this time to about 30 days.
Important note: DEALING WITH THE BANKS: WHAT RULES? There are no established published rules as we would know them. If there were rules, we real estate agents and brokers would learn them and try our best to present contract offers that followed the rules. We could give timely advice to our home buyers to expedite bank acceptances. However, banks perform like dictatorships.
Banks will dump a contract offer without explanation.
- Banks will dump a contract up to the date of settlement if a better offer comes in.
- Contracts mean nothing to a bank. The addenda give them the right to do what they wish.
- Banks can counter a contract offer to far above list price without even changing the list price in the MLS.
- If you are interested in a property you need to put in your highest and best offer
- You can be sure that at least 6 people want the same property that you do!