Bingo. An experienced agent is key.
buckle in is right. i bought one. what a headache it was
Very nicely put together video. Good Job.
A lot of what you say is true, but an investor who has money on the table, credit, an aggressive agent who can work with the banks,etc., it doesn't apply to them.
Good video very informative
I'm sure what he is saying is true in some cases, but I bought a short sale and it went very smooth. So I think it just depends. I only had to wait for the bank for about 2 weeks for a response and they just wanted $4k more. I think the key was to find a short sale that was already approved by the bank. My whole process took about 3 months from initial offer until I moved in. I would definitely buy a short sale again.
can you withdraw the offer also? Seems like the banks have way too much power over the market but then again maybe they always have. After all I think the banks personally thanked all the people that hold US dollars for not allowing them to take any losses, or maybe they didn't. Maybe they apologized for allowing speculative loan practices that made houses go to overpriced territory? Nope again just bend over and take it up the pooper like the peons we are
Great explanation of the process . I will run from them . Of course I may reconsider if the bank has already approved the sale at time of listing .
Based on my personal experience, everything you said is bang-on 100%.
Well done on the excellent video. Short and to the point.
Great Presentation! Very professional and clear cut.
First off , do not grant the bank any power.
Thank you for the upload. Great learning lesson. I'm considering buying a short sale home, and this video makes me reconsidering it.
So true………I went through 3 of them. Didn't get any. The bank will stringline you alone for 9 to 24 months just to see if the market will have gone up and they can get you to pay more for it. Short sale is the worse sale out there. Don't waist your time one it. If anyone out there got one for less then 9 months into it….then you are just lying.
if waiting indefinitely on short sale is not a problem for an investor are there any other risks?
This makes perfect sense if there's no buyer most people nowadays do shorts to try to avoid a 4closure
Absolutely correct. Thanks for the video.
this process sounds like a real pain in the ass. Thanks, I was just looking at a short sale. I guess I will pass on it.
Great stuff thank you. I live in LV, Nevada and my house is going up for shortsale next month and not in a huge hurry to move out for the new buyers. Do you realistically think I could be here another 4-6 months before It actually closes.? Its a very clean home in a desireable area. Thank you
I'm watching this video from my short sale home I bought three months ago. He is right about a lot of this. it was mentally taxing for sure. We put a low offer in around Feb 1 and did no get our offer accepted until mid Oct. (realtor said we'd be in by May..NOT!!!). We closed within days of our apt. lease running out. We got a great home for well under market value. But we might be a exception. Don't do a short sale if don't have a 10-12 month cushion before you have to move. We even used a realtor who did mostly short sales.
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