I'm having an incredibly hard time understanding or feeling sorry for the banks in the market downturn. I have a listing and a buyer with short sales and each of them have troubles even responding of offers, appraisals or to discuss reasonable timelines. Please understand this is not my first short sale or bank owned transaction. It's time for the banks to help the Realtors help people. Afterall, that's why I'm in this business!! I'm losing buyers left and right and contracts that should be closing. The banks are losing money each and every day they stall. Who can I see about all of the additional costs incurring in a transaction, simply because the lenders aren't motivated. I'd like someone from the states and federal government to get a firm understanding of what's happening so "something worthwhile" can be done.
How many people think 3 months for a response on an offer to a lender is acceptable? This is killing our hopes of recovery and any reasonable timeframe to make a real estate transaction happen.
Please offer any suggestions on improvements to help things speed up to normal.