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
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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