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Michael Valdes is a born and raised Tampa Realtor with Keller Williams Realty Tampa Central. Michael has over 13 years of experience, leads the FlaPropertyFinder.com Team, is a constant top producer and specializes in waterfront homes.
For the seller to counter the buyers offer with a lower offer is usually not in the seller's best interest. Most of the time the banks want a deficiency judgement or lump sum payment due to the seller upon the closing of the short sale. By countering with a lower offer, the seller could get a larger amount to pay back to the bank. In this particular situation, I would check to see if there is a investor involved (who could also be negotiating the short sale for the seller). The investor is hoping to purchase the home for a low price and then intends to flip the property immediately to a new buyer (usually a same day closing). This situation is not always bad for the buyer (as long as they are still getting a good deal, but the problem is that sometimes the buyer's lender will back out of the deal due to seasoning requirements (usually on FHA loans) if the seller (the investor in this case) has not owned the property for at least 90 days and or too large of an unjustified increase in the flip price. Also, buyers be careful of the addendums that the seller/investor adds to your offer where they get to keep your deposit if your financing falls through (can happen due to the option contract/ seasoning issue). This scenerio actually happened to my buyers this past weekend. ***Buyer Tip*** - Always have an agent representing your best interests (especially in a short sale) and know what you are getting into if that agent asks you to sign a "limited service agreement". Normally the agent on sign out in front of the home is representing the sellers best interest, not yours! Michael Valdes e-Pro Realtor/ Mtg Broker, TRC, CPMS Certified in Distressed Properties Tampa, Florida www.FlaPropertyFinder.com
