As time goes by the amount of inventory in the Tampa Bay market is showing a larger share of listings as "short sales" It is as if you can not avoid them, Ive tried.
I had my first closing and I must say that the transaction went well. It was a great buy for my buyer client. The timing was right with a contract that had just fallen thru and all the waiting, phone calls and faxing had been done.
The sellers agent represented a Bank of America employee who had a Bank of America mortgage. The terms of the short sale were essentially holding the seller liable for the defecienty and specifically that the detail of the sale would be reported as a default to the credit agencies. The terms were all one sided towards Bank Of America.
The solution to the housing crisis is the Realtor and I hope the mortgage companies will wake to to this fact.
I state any family OR investor never count on a short sale OR foreclosure till the keys are in your hand
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