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I CHANGED MY MIND ABOUT SHORT SALES.

By
Real Estate Agent with David Kahn and Company Real Estate

Early in the process of a recent real estate transaction, I swore I would never get involved with the infamous deal we call a "short sale".  First of all, the name is - strangely so - quite the opposite of what it should be....should be a "long sale".  Anyway, by the time I could actually see the daylight in this process, it became apparent to me that you could actually have more problems with the buyer's lender than the seller's bank itself.  

Bank of America was wonderful in the process.  The culprit can be Equator, but even that's not so bad when you get the hang of it.  Ironically, I closed my short sale on Monday and will surprisingly assist another seller with one again this week. I became a believer that if you have a somewhat analytical personality and have patience for the details, you might survive the process.  As with any other real estate transaction, if all parties involved will cooperate and work together towards the common goal of closing, the major difference with a short sale is "time".

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Debbie Laity
CinaJones Real Estate - Cedaredge, CO
Your Real Estate Resource for Delta County

Well I can relate to you on this short sale. I have one deal where the lender was great. It was the buyer that held eveything up. We kept the buyer's earnest money in that deal. Euator sucks when you have to keep entering docs, but I can see where it will really help the short sale process....eventually and hopefully for the agent, too.

Jan 16, 2013 02:17 PM
Pete Xavier
Investments to Luxury - Pacific Palisades, CA
Outstanding Agent Referrals-Nationwide
Terri, Welcome back to Active Rain, I am more positive about short sales myself. Looking to enroll in the CDPE program soon.
Jan 16, 2013 02:36 PM