Here is the reality with short sale. I just got a short sale offer accepted for $ 140k all cash with no contingency & 7 days close. The highest offer came in at $ 184k all cash with 11 other offers came in between $ 155k to $ 180k. Comparables are $ 143k to $ 150k. Here is the difference. I offered to pay for HOA deliquency dues on behalf of the seller up to $ 1,500. The good thing is that this will be the 1st month she’s falling behind in HOA due.
The listing agent realized that there will likely be issues with the $ 184k all cash offer when it comes time to close. Higher offers with financing may have issue with appraisal. Listing agent picked my offer because the complex might have HOA deliquency issue again (>15%) in the near future, which might create financing issue again. Seller likes the fact that I offered to pay for HOA deliquency dues although this is pretty much a moot point.
What I’ve learned is that give the seller what they want on your offer. Make a good impression at the open house. Sign in at the open house. They might pick your offer because you offer something that they want/value whatever that is. It’s not the highest offer, but it might be the best offer. We’ll see how that works out. This is the 3rd time it has worked out for me. My offers were never the highest in my opinion.