Can you make a contingent offer on a short sale?

If you are interested in a home that is listed as a contingent short sale, you can still view the home and make an offer. However, your offer will usually be put in a "back up" position and will only be considered by the bank if the first buyers decide to terminate their contract.

US Legal Forms
Forms Kit
Legal Letters
Multi-State
Sample Letter for Offer by Client to Sell Property

Offer To Sell Sample With Price In Wake

Category:

Letters - Legal - Property

State:

Multi-State

County:

Wake

Control #:

US-0028LTR

Format:

Instant download

Description

The Offer to Sell Sample with Price in Wake is a formal letter template designed for property owners looking to notify municipalities of their intent to sell land. This specific form allows users to clearly communicate the available property, its location, and the asking price to city officials, fostering a transparent negotiation process. Key features include sections for the seller's details, property description, and an invitation for further discussions within a specified timeframe. Filling instructions suggest customizing the template with relevant dates, names, and property specifics. This form is particularly useful for attorneys, partners, owners, associates, paralegals, and legal assistants as it simplifies the process of officially presenting a property sale offer to a city, ensuring legal compliance and clear communication. It serves as a preliminary step before engaging real estate agents, making it vital for those involved in property transactions. By using this form, the target audience can effectively facilitate inquiries while retaining flexibility depending on the city's interest in the acquisition.

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FAQ

How to write an offer letter Extend a verbal offer. Be descriptive in your subject. Choose appropriate salutations. Include three or more body paragraphs. End with a strong close. Include supporting information that entices. Send as an attachment in an email,

To submit an offer on a FSBO home, you can write up a generic sales contract, go through an attorney, or hire a real estate agent. Generic sales contracts may not contain specific language for your state, and may not have enough protections for you (or the seller).

If you are interested in a home that is listed as a contingent short sale, you can still view the home and make an offer. However, your offer will usually be put in a "back up" position and will only be considered by the bank if the first buyers decide to terminate their contract.

You can always offer 20-50% under asking.

A highest and best offer request is usually made when a seller has received multiple offers on their home and asks all prospective buyers to submit their most attractive bids within a specific time limit. Once the seller has received all the offers, they will review them and pick the best one.