Top Reasons Why Short Sales Are Ridiculous
Short sales used to be a quick and easy demon. They used to only require a few hours and a couple days of calls. Now a days that is not the case. Short sales are just ridiculous most taking an average of a month to two months to close. And here are the main reasons why !
- Banks were not prepared for the rolling snowball that is short sales. The majority of short sale negotiators have over 200 files each.
- Most banks are revising there system to process short sales to try and make the process faster. This in turn has slowed the process down even more.
- Communication between departments and even people in the same short sale department is lacking. This causes extra phone calls and time to cipher through what is true and not so much after receiving an update.
- One of my theories is, bottom line, the banks don’t want to lose part of their bottom line. So they are not going to make it easy for anyone to take away from that, even if a short sale does benefit them.
- Jeff Buettner
Real Estate Wiz Kid
Who can help me buy a home in Phoenix, Arizona?
You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.
Leave a Reply