Are Short Sales Anything But Short?

Real Estate Agent with Silvercreek Realty Group
Short sales have advantages & disadvantages to both the buyer and the seller. While the seller is struggling with the possibility of foreclosure, a short sale is another option they can pursue which has a smaller hit on their credit, however, they need to be prepared to produce a multitude of documents including tax returns, income statements, budget analysis, letter of hardship and much more. Both the buyer and seller need to understand that this process can take several months to accomplish. A large part of the difference in the time it takes is simply the choice in real estate professionals they choose to work with. An agent who isn't highly skilled and experienced in the process can cause unintentional delays without even knowing it. I have been working short sales for over two years and understand the processes and what the banks are looking for in a paperwork submittal package and what it takes to make sure that it doesn't get lost in the shuffle. For more information on short sales, take a look at the following article: Wendy Alexandre Coldwell Banker Tomlinson Group Certified Foreclosure Specialist 208-412-2109 Cell

Comments (3)

Steve Merson 512 412 1621
Keller Williams Realty - Austin, TX

Very true Wendy! I have been doing short sales for some time now and it really does need the skills of an experienced agent. Of course, some banks are easier to deal with than others (no names mentioned) but I am about to close on a short sale on Wednesday that has only taken 7 weeks from contract to close!

Good luck and best wishes,


Oct 23, 2009 03:04 AM
Chris Ann Cleland
Long and Foster Real Estate - Gainesville, VA
Associate Broker, Bristow, VA

Wendy:  I'm like you.  Worked with them for two years.  Experience is a must with these things.  Too many pitfalls involved.

Oct 23, 2009 03:06 AM
Wendy Alexandre
Silvercreek Realty Group - Meridian, ID are absolutely right about who the bank is making all of the difference!! I closed one in 48 days and another one took me over 18 months to get finalized!

Chris Ann...there are pitfalls even experienced agents can't anticipate...because the bank just made them up the day before! :)

Oct 23, 2009 04:17 AM