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Are short sales worth the wait?

By
Real Estate Agent with RE/MAX Paramount Properties GARE Lic# 219466

OK, so I get a decent offer and submit it to the bank.  The bank drags their feet.  The buyer gets fed up and walks.  I finally get another offer, but this one is now $40K less than the first one.  Again, the bank drags their feet and I lose buyer number 2.  I drop the price again and am now just sitting.  Are short sales really worth it or should the buyers just wait for them to hit foreclosure?  I feel the banks are slitting their own throats.  Am I off track with my thinking?

Scott Hayes
(512) 786-8300 - Austin, TX
Realty Austin, Broker Associate

These nationwide banks should hire people in each region of the country to process short sales locally. Folks with real understanding of value, market conditions and local resources. Would save tons of time and money. Maybe I'll write a blog about this.

Jun 03, 2010 10:28 AM
Paul Gapski
Berkshire Hathaway / Prudential Ca Realty - El Cajon, CA
619-504-8999,#1 Resource SD Relo

Well sometimes i dont know what to think we short sales. They are getting better and then they are not

Aug 04, 2011 07:07 PM