foreclosures: Why do banks pass on short sales?
- 01/31/09 01:24 PM
I am still pinching myself to see if I just had a bad dream or what. My team had this great listing and the sellers fell behind on their payments. We received an offer that would require a short sale approval by the bank. The short sale would net a loss of approximately two grand. After four months of not getting a response from the bank, the buyer walked. We received another offer with the same net loss....and again no answer. This buyer walked as well. Then the home was vandalized. We still received two more offers. Obviously, the net loss became greater, but still under … (6 comments)
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