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Are Short Sales The Solution To The Best Real Estate Deals From Aventura Florida To South Beach?

The short sale is being attempted only to relieve the sellers debt due to a hardship, such as job loss, financial reversal, divorce, illness or death.

As the market has reversed from a sellers market to a buyers market and property values have come down at a face pace many sellers are upside down in the value of their home, therefore when trying to sell they owe to the bank more than their property is worth causing the SHORT SALE.  This is the process prior to foreclosure.

The SHORT SALE  process is a lengthy, although the banks are trying to move the current files at a faster pace.  We have experienced contract to take from one month to six months to close.   One of the problems caused by the lengthy process is that many of the buyers lose interest as they see other deals pass them by.

The bankers are burdened with paper work and short staffing and inexperienced workers trying to fill the gap.  In addition many of the SHORT SALES get multiple offers which add up to much more paperwork.

Hopefully the banks will set up a speedier process  in order to make this Real Estate SHORT SALE night mare less painful to all who are involved.

This entry was posted on Tuesday, July 7th, 2009 at 9:15 am and is filed under Buyers, Market Trends. 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.

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