I am committed to helping my customers purchase their dream homes even though the property they seek to purchase is a Short Sale or REO property . I am sure that every real estate agent that has ever tried to maneuver their way through the maze of administrative tasks and bank established delays involved in these transaction may share my frustration in believing I am serving my client justice in even directing them towards these type of transactions.
Ah, but therein lies the dilemma! There are very few properties out there that are not Short Sale or REO properties. Therefore I am duty bound, in their efforts to find a home, to help my client make offers (albeit it many sometimes) on such properties.
Pray tell .. why can't these banks create separate departments and staff them appropriately with "Real estate" trained or experience staff that can focus on streamlining the process of handling buyer's and seller's in Expediently processing owner's request for Short Sales and Buyers offers to purchase these properties.
Surely, the Banks could take some of the Billions of Rescue Money provided by Congress (ergo the public pockets) and hire back some of the employees they have let go in the recent past along with selected positions of real estate training or experience and createa department to facilitate these sell and buy processes .... and eliminate this embarrassing backlog of properties. It has been my experience that every property my buyers have made offers on there have been multiple offers! I have to believe then ....there are buyers out there (Lord knows due to the current economic situation, there are more than enough sellers!).
Hear say is that the banks are taking such steps, but if they are, there is no clear evidence that they have established clear, effective and timely processes.