Are short sales getting approved?

By
Real Estate Broker/Owner with Action Investments and Hawaii Pacific Realty BRE Lic# 01481898

There are many short sale listings on the MLS.  However, many of escrows are not closing for several reasons.  What are some of the situations which lenders are approving the transaction?  Are some lenders quicker to respond?  Are some lenders approving more short sales than others?

This Blog is a place where agents and brokers can share their experiences so that we can get more transactions approved.

Posted by

Jason Hector, Real Estate Broker, CA Dept of Real Estate Lic. #01481898
(818) 357-9658 Cell
(866) 791-3290 Fax
jhector@socal.rr.com
www.jasonhector.com
Broker--Action Investments
11630 Seminole Circle
Northridge, CA 91326
(800)-626-6469 Phone
(866)-791-3290 Fax

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Rainmaker
185,736
John Kim
Property Services & Short Sale TC - Irvine, CA

Hey Jason,

     Most of mine are now due to buyers not waiting (though I gave them a fairly accurate time frame est.) or never intending to buy.  Just sending out offers, for some mean reason, and never intending to purchase.  I say this because many of the properties are lower than the REO and are in their price range.  If it was possible to loose their deposit during banks approval then that would be a great solution.  At least on my end...

Mar 01, 2008 11:19 AM #1
Rainer
4,268
Julia Wei
Law Offices of Peter N. Brewer - Palo Alto, CA
I have had some approved and in those circumstances, there was a ready, willing and able buyer who stayed with the process.  In all cases, the short sale process took close to 3 months.
Mar 13, 2008 05:26 AM #2
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Rainer
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Jason Ian Hector

Real Estate Broker in California and Hawaii
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