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Banks Drive Me Crazy

By
Real Estate Agent with Keller Williams Realty

We had a buyer that just resinded on a short sale which was over 5 months old. The negotiator kept getting information back but the bank couldn't get it together. We have been being promised a decision is withing a couple of weeks for the past two in a half months.

Finally the buyer asked if we could just find them something without the uncertanty of a short sale. Within 10 days we found a property and it got signed around today. That was one of the last short sales we have in the pipe. This spring, between two agents on our team, we usually had around six short sales in the pipe but over the past few months it has gotten so rediculous that we just avoid them all together now.

What are the banks thinking and why can't they get their act together. I cannot blame the client for saying enough-is-enough after 5+ months.

Roy Kelley
Retired - Gaithersburg, MD

Good information and the reason why many do not want to invest time in short sale transactions.

Oct 04, 2009 09:55 PM