Laguna Beach Short Sale Homes Are In High Demand in 2012! This year has started off with a bang for those looking to invest in Laguna Beach Real Estate. Properties are seeing multiple bids on properties that are well priced in the current marketplace. A large majority of these homes are short sale listings that provide the lowest price for real estate investors. The reason a real estate agent will price a home this low is that the short sale process can not start without an offer to the bank. Often times real estate agents will do a quick comparable market analysis and recommend a price to their short sale client. As with all short sales, the seller is in default with the bank so the bank will be making the final decision on price.
Make sure you are pre-qualified with your own personal lender. The bank will not look at any offer that does not accompany a qualification letter from your bank. The seller’s agent will also not have the seller sign off on the offer until this is received. Second, be prepared to make an agressive offer. Many homes are listed below market for a reason, to generate a quick offer! The home has already been reduced in price so making an even lower offer will not always be to your advantage if you are competing against other offers. Make sure you are quick to act and push hard to get them to accept it and send it to the bank. 90% of the battle is being the first offer that is submitted to the bank. Once you have secured this position you will have first shot at buying the home. Many buyers do get tired of waiting on short sales and start looking at other homes. If you do see other properties that may work for you then make offers on other short sale properties. Many real estate investors will have many offers working at the same time since no money is needed to make an offer. In addition, short sale laws allow you to cancel the transaction at any time while waiting for the approval so there is no risk at many multiple offers.
This practice is the reason that many short sales do fall out since buyers will get approval on one property and have to cancel the rest of their offers. If you do find a property that already has an offer submitted to the bank go ahead and make a back up offer. Short sales fall out of escrow for exactly the scenario that I have just described so be patient and the great deal will come to you. Make 2012 the year to make a move. The market is changing as buyer confidence and the economy is increasing. Making money in appreciation in the next 5-10 years will make you very wealthy.
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For more information on the current Laguna Beach Short Sales for sale please visit our Laguna Beach Real Estate website today!