Stop Foreclosure: Better to Buy a Denver Short Sale or Wait to Buy it as Bank Owned?

Westminster CO – Some people think they can go around a homeowner and buy a home directly from the bank. “The seller has to submit our offer to the bank because the bank owns the house”, they tell us.

They assume that they can sidestep the seller and buy the house directly from the bank. The truth is that until the bank forecloses on the house, the seller owns it and they are in the driver’s seat.

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

If the seller works with another buyer on a short sale and the bank approves the short sale, then that buyer will get the house. If you really want the house, then it is best to work with the homeowner during a short sale.

Will a home sell for less after the foreclosure? Yes, it will! In Denver, we have statistics that it may sell for 8-15% less. The chances a buyer has to obtain this same short sale property as a foreclosed (bank owned) property will be greatly reduced. Why?

The banks will not sell the house to you without putting it on the open market. This policy ensures that they don’t sell any homes for way less than the fair market value of bank owned properties.

Due to the lower value of the foreclosed property. it becomes an attraction to real estate investors and the buyer competition is magnified, thus creating a bidding process for the bank owned.

Every buyer in the market has a fair shot at the house. Their reasoning is that will get the buyers to submit bids and then ask for the top 3 bids to bring them their "highest and best" offer to be accepted!

With that being said, if you as a buyer have found a short sale that fits your living requirements, financial requirements, and location is ideal, then be patient while under contract with the short sale and increase YOUR odds of getting that property!!

I can help you short sale your property and get back on your feet. Send me an e-mail at danhopper@comcast.net. 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 303-521-0984

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

Thinking about a loan modification? Our Westminster 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, Dan Hopper.

Dan Hopper is a Realtor located in Westminster, CO., specializing in Denver loan modifications and Short Sales.

Phone: 303-521-0984. denverforeclosureblog@gmail.com.

View My homes for sale at www.danhopper.com.

Dan Hopper specializes in loan modification assistance and short sales in Denver, Colorado. Westminster Loan Modification Help, Westminster Short Sales. Westminster Short Sale Realtor. Denver, CO Loan Modification Help, Denver, CO Short Sales. Denver, CO Short Sale Realtor. Westminster CO Short Sales. Westminster Realtor.

For related blogs / video blogs, click on the links, below!!

http://denverstopforeclosureblog.com/?p=578

http://denverstopforeclosureblog.com/?p=478

http://denverstopforeclosureblog.com/?p=375

www.youtube.com/user/avoidforeclosures

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Important Notice

Dan Hopper, Remax Alliance, and the Stop Foreclosure Institute are not affiliated in any way, shape, or form with the government. Our services have not been reviewed or endorse by the government or your lender. Most lenders willingly work with agents on short sales. Why?

Because most short sales are beneficial to a lender. If you accept our offer to help you on a short sale, your lender may not agree to a short sale or to modify your loan. We do offer a loan modification kit.

However, the likelihood of negotiating a modification is like everything else in life. It takes work and persistence to convince your lender to modify your loan. No matter what you or we do, your lender may not approve a loan modification.

We do not recommend that you stop paying your mortgage, because this will cause damage to your credit and could cause you to lose your home. Because we know avoiding foreclosure is so important to any homeowner, we recommend that you speak with the appropriate legal or tax advisor before making any decision.

This is not intended as legal, technical, or tax advice. Please speak with a licensed professional before making any decision. Information is deemed reliable but not guaranteed as of the date of writing.

You have the option to reject a short sale or loan modification from your lender if it does not meet your approval. If you decide not to go thru with the short sale, then you do not have to pay us our fee. We normally make a real estate sales commission for helping you on a short sale.

The views expressed here are Dan Hopper's personal views and do not reflect the views of Remax Alliance.

This information on Is It Stop Foreclosure: Better to Buy a Denver Short Sale or Wait to Buy it as Bank Owned? is provided as a courtesy to our viewers to help them make informed decisions.