Short Sale Drama

A short sale is a great opportunity for both buyers and sellers.  BUT they don't always run smoothly...in fact many times, they are just a pain in the you know what! 

Luckily we have a great short sale team.  From our negotiators to our title team and our attorneys...everyone does a great job.  BUT it doesn't always run smoothly!!

We recently had a buyer back out of a short sale property we have listed.  It was a fair deal, they had been waiting for many months and finally just said that the wait was more than they could handle.  I don't blame them, but it is frustrating to put all that time into something just to have it fall apart.  Again, I am not blaming the buyer, they have that right to do that if they so choose.  I respect that right.

The bottom line is that for all parties going into a short sale, each one of us should know (especially the agents...and the agents should be prepping their clients to the hurdles and time frame of a typical short sale) that it may fall out last second.  For many buyers, the long wait actually allows them to get a better price on the home and for all sellers, the short sale allows them the ability to get into a future home loan sooner than if they allowed the foreclosure.  All in all, I am a fan of the short sale....but it doesn't mean I don't quietly curse them from time to time!

If you have any other real estate questions, please feel free to contact Michelle or myself anytime. 

Nathan Robart
Keller Williams
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Nathan Robart

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