As experts, adviser's and educators in the foreclosure market we have decided not to represent Sellers or Buyers in any further Short Sale transactions. Like you... I imagine, we are tired of the banks BS! The excuses, games and complete lack of any system for handling Short Sales.
So here is how we are ridding ourselves and the market in our communities of even more Short Sales. We do not list them any longer, we do not show them to Buyers! Now wait before you fire off your... you do what comment!
If we receive a call about a Short Seller needing an experienced agent to help them we refer it to another qualified agent. That is if they still wish to consider a Short Sale after we educate them of the process and the implications.
With Buyers it is a simple approach... we educate them about the Short Sale process. It goes something like this... Mr. and Mrs Buyer did you know:
- less than 1% of Short Sales nationwide ever successfully close.
- that it could take 90 days to 6 months or more to close on a Short Sale.
- the enticing asking price is at best an educated guess, the bank will decide what they want for the home.
- there are many other homes that are priced just as well, without the HASSLE!
After the education we provide our Buyers, backed by statistics and homes that are comparable that are not Short Sales they typically do there part as well and say:
"I think we will pass on BUYING a Short Sale!" If they still think they want to pursue a Short Sale then we refer them as well to another qualified professional!
Now do your part to rid your community of Short Sales and help stop the decline in home values... STOP SELLING THEM!