Captain of the Short Sale Abyss...

By Bill Lauler

Real Estate Agent with Chase Realty LLC

November 19, 2009 03:03 AM

I now believe that Columbus could have been the captain of the "short Sale" due to the way banks hide their heads in the sand.They seem very unconcerned over the fact that a "willing,ready and able buyer" has put their money at risk to buy a property that will need a lot of work. Somewhere ,there is in a dark back-room lies the start of a great novel ,yet untold by the person ,who is handling all of the paper work for the bank or banks....and still after 4 months there is no answer..except for we are working on it.

Does anyone out there have an idea for this situation or ..are, we headed for the abyss because the World and the banks are both flat!

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John Secor

EXIT Real Estate Results - Winter Springs, FL

Bill - I'm guessing you mean abyss. I like to think of short sales more like a black hole that devours multiple copies of tons of paper work, consumes your credibility and actually bends time increments into distorted erratic incalculable and utterly meaningless way points on a calender.

Nov 19, 2009 04:13 AM

Yolanda Hoversten

Self Employed - O'Fallon, IL

Referrals for O’Fallon, IL & the Metro East

Hi, Bill. It's painful to deal with banks be it short sales or REO. Take comfort in knowing that's it's pretty much nationwide and you're not alone.

Hi, John Secor, I'm guessing you mean calendar.

Nov 19, 2009 05:19 AM

Ross Westerman

Kingwood, TX

Bill, let me be the first to apologize for John.

Give him a break Yoli, he still thinks he is in gradeschool.

Nov 19, 2009 05:33 AM

Douglas Fischer

East Oahu Realty - Selling Honolulu, Hawaii Condos - Honolulu, HI

It really makes you wonder what the rationale of the banks really are. I believe they have no motivation whatsoever to improve the process.

Nov 19, 2009 05:49 AM

Bill Lauler

Chase Realty LLC - McLean, VA

Associate Broker,CIPS,CRB,SRES,GRI

Hi John ,It sounds like you too,may be a pilot with your terms..maybe the last 2 years of hell with the banks is coming to an end or the government will take over and our freedom to make a living will go the way of the state..

Nov 20, 2009 12:56 AM

Scott Smith

Coldwell Banker Residential Brokerage - Gloucester, MA

Gloucester & Rockport, Massachusetts

Bill: The banks could care less about their customers. Some of these same banks received billions form the governemt and are hoarding $$ and not lending.There certainly needs to be reform.

There are few shorts sales in my community. I happen to have one of them. This listing has an accepted offer. I have heard the horror stories of getting bank approval. I believe this one will get approved quickly.

Nov 20, 2009 01:46 AM

Thanks for all of the great advice.If anyone has a buyer or seller headed for the abyss in Washington DC or Northern Virginia..please send them ahead..our referral fee is a mere 38% of our secured commission.

Nov 21, 2009 02:49 AM

Captain of the Short Sale Abyss...

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Bill Lauler

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