short sale fail: Why do short sales fail?
- 07/18/11 09:51 PM
Last year, I showed a large house which was offered as a short sale at the time. This property was in contract at least twice, but just came back on the market as a foreclosure. My clients were surprised and wanted to know what happened? What happened, indeed? Why did the short sale end up as a foreclosure? In California, 3 out of 5 short sales close escrow, or 60% of total. It could be a number and/or a combination of several things. Property owner couldn't prove or didn't qualify for a real hardship. For short sale purposes, hardship could be … (68 comments)
Last year, I showed a large house which was offered as a short sale at the time. This property was in contract at least twice, but just came back on the market as a foreclosure. My clients were surprised and wanted to know what happened?
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