Short Sale Process

By
Real Estate Agent with RE/MAX 440 Skippack

Banks need to streamline the process for short sales and REO's.  It would be in the bank's, seller's and new buyer's best interest to have an appraisal done early in the process, give the listing Realtor the acceptable parameters and execute the one agreement that meets the criteria. As a CDPE (Certified Distressed Property Expert) I have had the pleasure of working with a loss mitigation counselor who did just that and we went to settlement very quickly. Happy bank, happy seller, happy buyer!

Comments (2)

Eric Bouler
Gardner Realtors, Licensed in La. - New Orleans, LA
Listening to your Needs

Most just do not have the willingness and people to do that. You pay for what you get. Bet it was not Wells Fargo.

Nov 21, 2009 07:32 AM
Margot Aronson
RE/MAX 440 Skippack - Skippack, PA

Could be the reason - unfortunately, it's a myopic approach; just imagine if this process was utilized and homes were sold quickly instead of being vacant, loosing value and becoming too much for an average buyer to deal with.  Inventory issues and sold prices may make up for a small additional cost. Actually, this is just about changing the process order - not adding steps.  

Nov 22, 2009 10:28 PM