That sounds really boring doesn't, Organization 101? Well, I have been thinking about my first time buyers, short sales, REOs and the need to explain how all the timelines work.
I currently have a buyer of a short sale who has become testy. The offer was made in March, we have been waiting for a decision what seems like forever. The listing agent is in constant contact with the lender, they took two months to assign a negotiator (went through a takeover in the middle of all this), etc, etc, etc. Still no word, and my buyer is NOT happy!
I have first time buyers very excited about purchasing their home. After four months of viewing short sales and REOS and making five offers that were rejected, we are finally in escrow. Again, their lender is slow with the underwriting and I now have to request an extension.
My conclusion is writing a flexible timeline for these kinds of transactions to give my buyers. This way I can set expectations, remind them to look at the timeline and make sure they know what they need to do when.
We all work with timelines ourselves in order to close the deal. I think our buyers need the same transperency and tool to help them understand the process.
What do you think?
Barbara Singleterry
Keller Williams Realty
Simi Valley, CA
www.barbarasre.com
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