WHAT IS IN STORE FOR THIS YEAR 2010 ON SHORT SALES

In real estate business, one of the common means of paying off mortgages is through short sales. It may seem simple as it sounded, but this process may be too taxing to all of the people involved in this concern. This is a great deal between the buyer and the seller. For a real estate agent handling short sales can take not more than 10 days to close a deal. But selling properties is not selling like hot cakes all the time. For some it could take at least a quarter or so.

Many are asking what is in store for us this year when short sale is concern. Since most of the people are getting hopeful with these guidelines that should take effect this last April where there must be reorganization in the process of short sale in each bank. There has been an enormous dilemma with regards to staffing to do the job inside these banks.

According to a negotiator from Bank of America, there are more than 3,000 new trainees that go to special seminar- workshop to become representatives. This could enhance their skills further and that would give decent outcomes in an aptly way.

Here is some approach for your representative during sale:

- Guarantee that they acquire the full package image
- Be assertive to make calls to make sure that the deal is progressing.
- Be patient. Not all short sale happens overnight, it might take quite sometime. Well at least, you prevent it from foreclosure.

And for the Buyer who is about to purchase a short sale:

- Be certain that the representative is a pro that they are skilled enough to do the whole process of short sale. Otherwise, you are wasting precious time on a house that you don’t have any plans at all, purchasing it.
- Have an agent that is excellent in questioning the listing agents that putting properties in the market to verify if they are know what they are doing.
- Be patient on finding a good deal because these listing agents are doing the same thing too on closing deals.