Short Sale #entrepreneur #tips #shorts #short #shortsvideo #shortvideo

24 Dec 2024 · 0 min

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0:21

Steve D Valentine explains what a short sale is (a property with insufficient equity — "upside down") and gives a practical tactic for listing short sales in the current market: line up a couple of investors and use one of their low initial offers as a baseline to gauge where a lender (bank) might position their acceptance.

So if I was going to do a short sale in the current market, a short sale is when there's not enough equity in the property to cover the cost of sale to get out of it. So you're upside down. Technically, if I was listing short sales in this market, I would find a couple of investors that every time I listed a short sale, I would automatically start with one of their low ball offers just to get a baseline as to where the bank would be.