Another Common Columbus Short Sale Myth: The Property Must Be Priced Reasonably

Columbus OH – I'm writing a series in response to a number of big misconceptions I saw on a personal finance website online.
This myth is from what I saw in an article about short sales on a popular personal finance website. The writer claimed that in order for your home to qualify for a short sale it must be priced "reasonably."

Click here to discover how other sellers successfully did a short sale and avoided foreclosure.

It is obvious that the writer knows very little about short sales. I can tell you from personal experience that the banks don't care about whether or not the price is "reasonable."

The bank orders a version of an appraisal before approving a short sale. If the home is selling for the appraised value, then they will approve the short sale. If it is selling for substantially less, then they won't approve it.

No bank has ever asked me if the price was "reasonable." They just want to make sure it is selling for fairly close to the appraised value.

I think the point the article is trying to make is that the home can't be priced substantially under fair market value. Some short sales do sell for less than the fair market value.

In fact, some real estate investors have set up entire businesses dedicated to buying short sales under market value and then reselling them for profit. I don't condone or condemn such practices.

I don't recommend that you short sell your home to a real estate investor.
The short sale is much more likely to fail. The real estate investor is not trying to help you. They only want to buy your home for as low of a price as possible in order to ensure a big profit. Thinking about a short sale?

I can help you short sale your property and get back on your feet. Send me an e-mail at robin.lemmons@kingthompson.com. I will contact you for a free consultation.

When we talk, I will explain how the process works in detail and answer any questions you may have. Or, if you prefer, you can call me at 614-741-2495

Discover how other sellers successfully completed a short sale and request a free consultation by clicking here.

Thinking about a loan modification? Our Columbus loan modification kit has the instructions you will need to get a loan modification approved with your bank. Click here to request a copy.

Thanks for reading this,

Rick and Robin Lemmons.

Rick and Robin are a Real Estate Team at Coldwell Banker King Thompson.
Phone: 614-741-2495
robin.lemmons@kingthompson.com.
A Zest For The Best

View Our homes for sale at www.rickandrobin.com.

Rick and Robin Lemmons specialize in helping Columbus Homeowners short sale and never pay the bank another penny. Columbus Loan Modification Help, Columbus Short Sales, Columbus Short Sale Realtor, Columbus Short Sale Realtor, Columbus OH Short Sales, Columbus Realtor, Columbus OH Short Sales, Columbus Realtor.

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