It really feels like we have to sell each property four times when doing a short sale here in Jupiter. I'm sure it's the same way in other areas as well. The past few contracts we've had on our short sales we end up getting the approval and the buyer backs out of the contract, before even doing inspections. The whole situation really isn't fair for the sellers being the contract's are As-Is and are very easy to back out of. We have been keeping all parties informed every step of the way and always getting extensions when needed.
This whole process is really unfair for the sellers. They struggle with staying patient after the 2nd buyer also walks away. Majority of buyers are going out placing numerous offers at a time and will wait to see which one gets approved first at the price they want it for.
The banks are a whole nother story. They always seem to bite off their nose to save their face and most of the time it makes no sense when they post their decision. You can't help but wonder what goes on behind the scenes in the negotiators office.
The part that really makes no sense to me is when you try to swap out a contract and they end up starting you from scratch, and really seem like they could care less. I've experienced this mostly with Aurora Loans lately and of course Bank of America with their Equator System.
I would love some tips from you short sale specialists out there on how to avoid starting from scratch, when you have another offer with the exact amount the bank approved.
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