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Short Sales

Short Sales are a very interesting subject these days. It seems like everything person these days is selling their house short. But how do you really deal with short sales? To be completely honest with you I never wanted to get involved in short sales. They are a big pain and you aren't gaurenteed anything. But like I said before, it seems like everyone is selling short. I am not even sure if mortgage companies are willing to exept offers that are short. I keep hearing mixed information when it comes to that. Is selling short really the solution for people? It seems like this is the new phenomenon. It's the easy way out.

Posted by ERIC BOOTH on 07/03/2008 12:41 AM

Comments (3)

short sales, foreclosure, selling short, bank owned, west loop, northbook il, chicago real estate

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3 Comments on Short Sales

I agree, Eric. I worry about the people who are struggling and trying to hold on. Some do sell, pay off their debt and buy smaller homes or rent for awhile. With all the other options to them gone, some just have to bite the bullet and foreclose. It is a shame for anyone to have to go through that. Their credit is ruined forever, who really wants that?

07/03/2008 02:45 PM

by Frances C. Rokicki, Broker~Mentor,CRS (Fran Rokicki Realty, LLC)

I would like to just find one agent who has successfully closed on a Short Sale either Buyer/Seller to share any knowledge. I have been in the biz for 5 years but cannot seem to find even the most seasoned R.E Agent who has accomplished this. A lot of conflicting information out there but no real direction.

07/08/2008 11:01 AM

by Darlene Phillips (Century 21 Act-1 Realty, Inc)

Eric, Short Sales are a unstandardized process that lend to disappointment and frustration. If Banks don't steam-line the process, they will just end up with more REOs.

07/09/2008 07:24 AM

by Rod Rich - Atlanta- Associate Broker (RE/MAX of Buckhead @ Brookhaven)

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