transaction: Short Sale: Are they worth the wait?
- 06/29/08 01:02 PM
Short sales, foreclosures: These are the inevitable allies in this market. And so it is not a surprise that I am now in transaction with a short sale. Because of the wait, I can just tell that the buyers are already nearing total impatience and borderline surrender. We are now counting five weeks from the time of bank submission and we hear nothing other than a call promise from the bank's appraiser. That was a week ago and I have not heard anything yet. In the meantime, we received another offer from another agent whose Buyer is ready with an all-cash offer. Great, I thought! But will they … (2 comments)
Short sales, foreclosures: These are the inevitable allies in this market. And so it is not a surprise that I am now in transaction with a short sale. Because of the wait, I can just tell that the buyers are already nearing total impatience and borderline surrender. We are now counting five weeks from the time of bank submission and we hear nothing other than a call promise from the bank's appraiser. That was a week ago and I have not heard anything yet. In the meantime, we received another offer from another agent whose Buyer is ready with an all-cash offer. Great, I thought! But will they … (2 comments)
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