The Short Sale Training Wheels are off so why are you still falling?
So it's been 4-5 years of heavy South Florida Short Sale activity and that's a long time to be able to try and figure out a system for getting Short Sales through the levels of our Lenders don't you think? I've been one of those Real Estate Agents who chose to help the distressed Seller early on in the Short Sale cycle so I've seen it all yet my most recent Short Sale that I'm handling leaves me wondering if Lenders will ever learn how to process a Short Sale. By now, it should be second nature just like once you learn how to ride a bike and the training wheels come off, you can hop on a bike and it's smooth sailing or should I say, smooth riding.
The Short Sale that I'm referring to has been going on since November 2011. By no means has this been the norm for me yet by now this shouldn't be happening. The Short Sale has been deleted out of Equator 2 times, has been rejected once and now when we're perhaps days away from hearing a final hopeful approval, they decide to issue an auction sale date set to hit the Broward County courthouse steps in just a few weeks - oh geeze!
It has been escalated several times. The word "escalation" is now the norm along the way with a Short Sale. You're asked: "Did you escalate it?" Talk about crying wolf and then later nobody hears you!
The accountability is lacking. Just pass it off to the next guy. It's not my job. It's going through the process. Does anybody really know the process and are they accountable for it? Too many gaping holes in the process. Too many could care less.
Shouldn't Short Sales be able to be accomplished in your sleep by now? Aren't they second nature? Doesn't the right hand know what the left hand is doing? Why would a Foreclosure Auction Sale date be issued on a Short Sale under review? This in and of itself should highlight the fact that the review process has taken way too long if it's gotten to the point of setting a sale date.
I don't know about you but the Short Sale fiasco shouldn't be at this level 5 years later as they should be pretty easy to accomplish my now.
This borrower would have likely lost their battle along time ago if I didn't keep on keeping on. How many Real Estate Agents push and push to this point. Would you have thrown in the towel by now? How long can you keep up such battles before they just wear you down? A good question.
Still too much Lender bureaucracy when it comes to Short Sales five years later. I have a vision. Can you imagine what it might be?!
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