Tuesday, February 03, 2009

Short Sales Why Difficult to Buy

Short Sales account for 25-30% properties in the Metro Orlando market and short sales are difficult to get offers accepted, many times lenders are backlogged and unorganized, other times they make no money on the transaction until the property goes into foreclosure. In addition, there is liability issues when a servicing company agrees to a short sale and violates investor agreement in certain situations. Here is an article that demonstrates the issues lenders consider when viewing a short sale, which complicates these sales further. Buyers Broker of Florida is experienced in short sales for buyers. They are for buyers that are willing to wait and willing to give up on short sale properties that go now where or bank does not take their offer, after months of waiting.