| The opportunity | | | | be accepted by the sellers' mortgage lender and |
| In May of 2007 there were only 45 homes in the | | | | new offers can come in before your offer is |
| Intermountain Multiple Listing Service of southwest | | | | accepted by the lender. If these offers are |
| Idaho that were identified as Idaho Short Sales. | | | | superior to yours the lender can approve that |
| At the writing of this article in August of 2008 | | | | offer and deny yours. |
| there are nearly 1,000 homes that are being | | | | Patience is a great virtue |
| offered as Idaho Short Sales. This is | | | | After your offer is accepted "patience" is a great |
| unprecedented in the over 28 years I have been | | | | virtue. Even if your offer is accepted by the |
| a licensed Realtor in the state of Idaho. | | | | seller, the seller's lender must approve your offer |
| Identifying Idaho Short Sales | | | | as mentioned above and mortgage lenders can |
| Lenders require that sellers facing an Idaho Short | | | | take several weeks before they will respond to |
| Sale hire a licensed Realtor qualified to perform an | | | | your offer. These mortgage lenders are |
| Idaho Short Sale. Using the Intermountain Multiple | | | | processing hundreds and in some cases thousands |
| Listing Service I can identify all Idaho Short Sales | | | | of short sales from across the country and |
| in the price ranges you are looking at and have | | | | processing all these short sales is very tedious |
| only those short sale homes emailed to you | | | | and time consuming. Keep in mind, the seller is |
| automatically. There is no charge to you and this | | | | asking their mortgage lender to write off a certain |
| service can be cancelled at any time. This way | | | | amount of money owed to them and it is not an |
| you can be the first to know when a Short Sale | | | | easy decision for that mortgage lender. Mortgage |
| in Idaho comes on the market. | | | | lenders are looking for the best offer that will |
| Making an offer on your Idaho Short Sale | | | | have them loosing the least amount of money. |
| When you make an offer on a home identified as | | | | Working with an Idaho Short Sales Specialist |
| an Idaho Short Sale please do not "Low Ball" your | | | | It does matter who represents you in the |
| offer in an attempt to get even a better deal. In | | | | purchase of your Idaho Short Sale. There are a |
| most cases these homes are already being | | | | lot of stories of Realtors that submitted |
| offering at below market prices. If you low ball | | | | incomplete or improper short sales packages |
| your offer it is likely your offer will be denied by | | | | which is a combination of all information require |
| the seller's mortgage lender and this is even if the | | | | from the seller and the buyers offer. If submitted |
| seller seriously considers your offer. Keep in mind | | | | improperly a good buyer's offer can be denied or |
| the seller's lender is already loosing money and is | | | | worse yet, a response will never be given. I have |
| not anxious to loose much more. Keep in mind | | | | been selling short sales for over 15 years and in |
| that even if the seller accepts your offer it must | | | | 2008 became an Idaho Short Sales Specialist. |