I'm looking for a little advice today...
We're all neck deep in short sales these days so what have you found to be the most successful tactics to get these deals closed? I'm looking for both sides of the coin here: dealing with the bank and keeping buyers engaged. Thanks!
I would say to price the home right and communcate as often as possible with the lenders and the buyers agents if you're the listing agent. Make everyone know the realistic time frames for an approval which can be best case scenario 30 days up to 4 months or more depending on the lender.
Besides patience, I think you have to be patient. Of course there is the need to be patient. And you can't leave out the patient factor.
Patience is a virtue. The buyers should stay calm when waiting on responses to their offers. Also, do not become too attached to a particular home.
I don't have time for patience! (Just kidding!) I agree that setting up realistic expectations in the beginning is the most important factor when working with buyers of short sales. Most seem to think you're joking when you tell them how long it takes for banks to respond!
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