Ever since the collapse of the real estate market buyers and sellers alike have had multiple questions about short sales. The Bend real estate market has seen and continues to see it’s fair share of short sales. The good news to both buyers and sellers is that Short Sales are getting closed and they are […]
Today Buyers and Sellers alike are hearing these terms more and more which bring more questions than answers most of the time. There are many misunderstandings of what these terms mean and what the process is or can be. The current real estate market is one that even veterans of 40 plus years have never seen before. Let’s explore what these mean here locally and have a glimpse of what they may mean in other areas.
Just because you feel you are upside down in your home does not qualify you for a short sale. I do not know how many times I have been told by a seller their home is not worth what they owe so they are going to walk away or quit making payments, then try and sell (short sale) or let the bank take the house. The sooner you talk with an agent the quicker your stress will go down. Many agents do not let these people know that there are specific guidelines to a smooth and successful short sale.
A couple of my buyer clients are participating in short sales. They have done their home work, they know it can be a sit and wait just to have to hurry up at the final approval (if it ever comes) approach. One Buyer in particular is buying while living half way across the country – […]