How To Succeed With Short Sales

Real estate agents and homebuyers are expressing their frustrations with short sale transactions due to the length of time it takes for a lender(s) to respond, if they respond at all. The issue is one whereby the floodgates have been opened and attempts are being made to list properties by sellers, which are in fact not short sales. To succeed with short sales the listing real estate agent needs to have a skill set whereby they can reverse engineer an entire real estate transaction, as well as perform financial forenics on the information they have gathered. If the real estate agent does not have the skill sets then a team of consultants (real estate attorney, title company, tax adviser, and loan officer are necessay). Real estate agents representing buyers in a possible short sale transaction needs to be perform sufficient research to determine with their buyer, if there are other factors which could effect the potential short sale transaction from being successfully completed. Where the lenders are to blame is that it is becoming well known, when a borrower is foreseeing a financial crisis on the horizon, the lenders will not work with the borrower until they are behind in their payments. I will extremely pleased to hear Suze Orman on CNN, yesterday, say this same fact. IMHO - lenders are being just plain stupid with this strategy, because it leaves the borrower with a very hopeless feeling. This could explain why people are walking away from their homes. Check out tips and hints on how to succeed with short sales on my Naples real estate blog. I do not offer any items for sale, just plain good old ideas. Just in case - my success rate is far above the average of 20% as quoted in a recent New York Times article and finalization of the negotiations in an average of 17 days.