I know that short sales could be a great opportunity for some Buyers. It is obviously a sign of distress when it comes to sellers. Hunting down and capturing a short sale home (prior to foreclosure) certainly has become the latest sport for the Buyers in the market place. What any good "sportsman" has to do is to get acquainted with the approach and know their opponent - that is the key to success. Extremely low-balling a home is kinda like firing a warning shot above their heads. In my experience it will make the lender run away and not respond. Do your research (determine the value of comparable homes, derive a value on the property, make an educated and well thought out offer within 85% of the determined value NOT LIST PRICE) and then fire your direct shot. Do you think that the lender has not already determined the home's value? Knowing what they know is the key. That approach will not scare them away - it will more than likely really make them appreciate your offer and take it much more seriously. The "warning shots" take up a lot of time for a lot of people and most of the time, do not pan out.I am not a hunter. However the analogy seemed to fit in quite well here!
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