Tuesday, January 17, 2012

Three Criteria of Irresistible Short-Sale Offers

1. Fast and sure closing—their most important criterion. No 60- or 90-day escrows; they want to finish the deal in 30 days or less


2. Cash only! Lenders won’t finance a short sale for you.

3. No contingencies. Lenders will be leery of short-sale offers that have so many weasel clauses, they look like Swiss cheese. One easy way around this is to use a liquidated damages clause to give you a pain-free, covert way to walk from the deal if worst came to worst.

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