From Steve Eveleth www.steveshomesearch.com Livermore real estate short sales, agents dont waste your time, Its gotten ridulas. I have 3 clients that have been waiting months for responces from banks. The agents promise you the world with a leap of faith hopeing for the responce so they can make a sale as much as buyers wants the property. I actually have got one responce back from bank 3 months later & they countered with 45k higher then asking.....on a $420k purchase price???What are they thinking??? Just wait till the bank takes over. I have gotten awesome responces from banks, everytime within 24 hrs, sometimes even signed contracts the same day!!! The only way I even consider a short sale is if client absolutely loves the home. In that case I let client know there is a 3-4 month waiting period right off the bat. Then if they want to spin the wheel here is the questions you should ask the listing agent::
1) is the bank responsive & cooperative?
2) what stages is the short sale approval at with lender?
3) has buyer turned in all required documentaion, hardship letter, tax returns, ect to lender?
4) is the second with same bank as first? If not what is there responce? What stage & contact is with the second?
If the listing agent answers these questions with knowledge & confidence you may have a better chance but if not dont even waste your time there are way to many REO's out there ready to go..and o what deals I have been getting on those, lots of happy clients! www.steveshomesearch.com
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