What You Need to Know to Get your Offer Accepted by the Bank
Most Buyers believe that if the property is distressed or in a short sale, they then would have the most chances of their offer being accepted, since the bank is “distressed” or wants to sell fast. However, it works totally in reverse, on a short sale or distress situation, the Buyer has the least flexibility and the least leverage when presenting an offer. In many occasions they don’t even have a second chance! Meaning they are not even countered by the bank. The property is distressed NOT the bank! Remember the legal definition of distressed property, “the legal seizure of...
