With reports that Short Sales will be about 50% of our buisness for the next few years...it is no surprise everyone is trying to brand themselves as a Short Sale Realtor. But...unless you have been through the process and have been on both sides of the transaction you know...Well, it's not a Short Sale at all.
I would really like to see something where the Banks got on board and made the process a structured one, by the book, weighing their losses to what the market will bear on each home....kinda how it is now but more direct...the weeks between having all the information in from the buyer and seller and the BPO or Appriasal Completed is just lag time. Knowing the Banks are swamped and understanding each Bank Negoitiator has about 100+ files...but that last 4-7 week lag time of just waiting for an approval...frankly, sucks.
So I would hope that somewhere, someone has that mathematical equation in the Banks where looking at the whole picture could cut down on time lost and buyers walking...We know, 90% of 1st offers on Short Sales will never reach the closing table...so getting that approval number out to the Short Sale Selling Agents is key.
Again, when I list a Short sale, I ask for help from the Seller...that to me is key, we all need to be making phone calls and staying on the same page...but I also have my Short Sale Buyers sign an addendum for me...that they understand the lenghty process and know that...Good Things Can Come to Those Who Wait.
Please Call Me or Email Me For Information On If A Short Sale Is Right For You...
Melissa Polce www.MyRelocation2Charlotte.com www.TheShortSaleAgents.com 704-450-4335
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