short sale listing: Just How Long a Short Sale Listing Can Take (Worst Case Scenario)
- 10/28/08 09:34 AM
One year ago I took a short sale listing in a very targeted neighborhood; a 55+ community. I knew it wouldn't be easy to find a buyer. It wasn't. Many price reductions (we were competing with the on-going new construction), we finally got a buyer to submit a very reasonable offer in late May of this year.
That same contract has been with Countrywide and their investor, Fannie Mae, since then. Countrywide has ordered a total of 4 appraisals and 2 BPOs (Broker Price Opinion). The problem is that Fannie Mae, the investors on this loan, has a completely unrealistic idea … (12 comments)
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One year ago I took a short sale listing in a very targeted neighborhood; a 55+ community. I knew it wouldn't be easy to find a buyer. It wasn't. Many price reductions (we were competing with the on-going new construction), we finally got a buyer to submit a very reasonable offer in late May of this year.
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