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Updated almost 13 years ago,
Investor advantage in short sale offers?
Have an interesting deal pending. A short sale was listing in my target area. I made an offer (full asking price, 2% concession) fully expecting to get a highest and best counter which has been the pattern here in Phoenix for a while now.
Surprisingly, my offer was accepted the next day and we are under contract.
I asked my realtor why this went so smoothly, turns out, this seller has been under contract with owner occupants twice already both of whom cancelled at the last minute. My agent simply explained to the sellers agent that I was an investor without a specific time frame and would wait for the process to play out. They readily accepted my offer without even looking at another owner occupant offer. By the way, they had thirteen offers to choose from the last time it went on the market!
I have always thought that a short seller would be better off with an investor offer than a owner occupant offer.
Does anybody have any similar experiences?