How To Make An Offer That Is Accepted: Tucson Short Sale Tips

On any given month, many offers are coming in for Tucson short sale listings

. However, how do you make a Tucson short sale that is going to be accepted? After all, there are so many different offers coming in every day, how can you make sure that you stand out from the crowd? If you want the best chance of your bid getting accepted, you should take in the following suggestions.

Check the comparable sales

It is true that certain Tucson short sale listings are placed under market value with the sole purpose of attracting buyers. However, just because something is placed at a certain price does not mean it is going to sell for that particular price. However, if you look at a price between 5% and 10% under market, you will see that banks are more likely to approve a short sale.

Guarantee you will wait for approval

Do you know what the biggest problem for Tucson short sale sellers and listing agents is? Buyers that decide to walk away from an offer. Oftentimes you will see that buyers are making offers on several houses, sometimes dozens of houses, just hoping to see an offer that is accepted. If you can ensure the seller and listing agent that you are serious, you will have a much better chance.

Give the bank a reasonable time

It is possible to receive short sale approval from your bank within 3 to 4 weeks. However, many banks are going to take a minimum of 6 to 8 weeks sometimes even longer than that before they reject or approve a Tucson short sale. If you ask for approval in less than three weeks, you may find that your offer is simply tossed aside.

Provide a solid preapproval letter

There are many prequalification letters involved when it comes to Tucson short sales, however a lender preapproval letter is going to stand out from the rest. The letter states that the buyer is actually preapproved. This immediately eliminates part of the doubt about whether or not a buyer is financially capable of closing the transaction.

Hire a professional

The truth is that especially if it is your first time buying, having someone take you through the steps of making an offer on a Tucson short sale is going to be beneficial. It helps you avoid some of the more common mistakes that first-time bidders make, and is ultimately going to help you smooth out the process.

by: Tucson Real Estate

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