Short Sale Approval

We finally got approval on a short sale. Woo Hoo! We've had this listing for over a year. It's been a long road. Three contracts later it is finally done. The reason for writing this post is because it was a very difficult transaction. We know the banks are not in to owning real estate, so why did it take so long for them to approve an offer on a property at a lower price? We had an offer on this home with in weeks of it being on the market. The bank took so long to give me an answer, the buyers rescinded the contract. Almost a year later the bank approves the sale at a price much lower than the first offer on the home. We thought, the bank wanted to get as much money as possible for the sale and go after the seller for a deficiency judgment. If the bank would have taken the first offer the deficiency judgment would have been lower. It amazes us as to how this short sale and foreclosure stuff is happening to families in our country. It is ridiculous! We are glad it is over. We helped our clients out of a bad situation and we are very happy we could assist them in their time of need. You have to be very persistent to make a short sale work for all parties involved. If you are having difficult making your payments? Give us a call. It would be our pleasure to put our experience to work for you.