Why Agents Hate Short Sales?

Real Estate agents are being faced with the need to do short sales. So why do real estate agents hate short sales? I'll tell you why they can be very frustrating. One of the Reasons they are so frustrating is that they take so long and you can lose your buyer while you wait for the answer from the bank. If Realtors can change their perspective on this first buyer it can make a big difference in their short sale. Alliance Short Sales in a company that provides: Education for Short Sales, Short sale Processing, Short Sale negotiation training. We would love to help you with your short sales with education, advice or service. Contact us at 509-747-1101.
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Education

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• Matt Side
• Alliance Short Sales
• Alliance Insider Network
• Seattle Short Sales

[johnmonk66]

@meazi01 bet you are still waiting, if they even said yes

[johnmonk66]

@evans4you No, a short sale is when more is owed on the house than it is worth. If that house was only worth 1 million, then it would be a short sale.

[l0footwang]

Forgot to add the first buyer got that acceptance letter within 2 months.

[l0footwang]

What you are saying here is probably true but this hasn't been what I experience. The first buyer got an acceptance letter one week after they decided to walk away, but the second buyer has been waiting 8 months!! Short sales are awful and unpredictable so there's no telling what the bank may do because there is no one holding them accountable.

[Ebenoozen]

@evans4you Yes, you are essentially correct; If the buyer/owner walks away from it, he walks away from EVERYTHING. Any equity, any improvements, etc. That's why loaning institutions are left with vacated homes, with sinks,light fixtures,appliances, etc. missing from the home..and usually removed with no regards to damage to the home. In your mentioned case,the bank would likely have a auction,silent, or otherwise,to get the most out of the property. Banks aren't opposed to proffit

[evans4you]

@Ebenoozen so let's say someone bought a 5 million dollar home then stopped making payments with only 1.5 million left to pay off the house, would the short sale give the buyer a 5 milion dollar home for only 1.5 million? what happens to the house owners equity or all the money he has been paying to the bank?

[Ebenoozen]

@evans4you A short sale is when a home is in foreclosure, and the bank is selling the home for what the defaulting owner is "short" from paying off their loan. i.e. a home purchased for $250,000. The owner put down $20,000. Their payment was paying next to nothing on the principle, so, the bank is trying to get the remaining $230,000 owed on the house... In a nut shell.

[evans4you]

what is a short sale?

[JaxInvest]

Fab videos... thanks for taking the time to share them!

[mandy64tampa]

I agree uneducated Agents probably do hate short sale. I love them because i feel great being able to HELP a homeowner in need. If you need a Certified Distressed Property Expert in the Tampa Bay area please contact me.

Manuela Woodrum - Future Home Realty ela.listingbook . com