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Can you under price a short sale luxury

I had an interesting conversation with a luxury short sale seller this past weekend. Their home had been on the market for 1.4 million with very little marketing or interest. The clock was ticking for foreclosure, and I was given the task to get it sold and help salvage what I could of their credit. We needed to move fast and we needed to be aggressive. I advised pricing the home below a million to get the Realtors’ attention, as well as consumers – Ultimately generating multiple offers.There were several “what if’s,” and what if was the ultimate “what if the listing price is the highest offer Will the lender approve it ” Most likely, the lender would not approve a short sale at the listing price. I have used this method to sell homes frequently, and in every case multiple offers have been generated – and there’s always been at least one that would make sense for the lender to jump on. This particular home went on the market this evening. By Monday morning I will have a stack of offers and a bidding war will start. How does this method of selling a home benefit the seller The seller will have a ton of traffic over the weekend – and that’s pretty much it. They can worry about finding housing alternatives, packing, and moving without worrying about potential buyers requesting viewings for weeks on end. It benefits by halting the collection process call early. It gives us plenty of time to negotiate with the lender (s) … and Ultimately it provides peace of mind. Is there any guarantee that the lender will accept the short sale Absolutely not. But there’s no guarantee they’ll accept it if the process is dragged out 30-60 days. It’s a unique market and creativity is what’s getting homes sold for top dollar as quickly as possible. Do you have a luxury home that you may need to short sale Give me a call – I’m here to help. More information at, or by calling (925) 824-4877

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