The idea of the bank taking a $200,000 hit to your benefit.
Yeah you might hear that is takes a lot of time, but you are patient right?
Well that is the problem... it isn't just a matter of patience. It is a matter of only 1 in 10 (was 1 in 5) actually closing. So it if takes 3-6 months and only 1 in 10 closes, that means it can take 5 years to get one.
But the chance of a Short Sale closing can be as high as 80% if you ask my "Top 10" questions to as a listing agent. See my blog so you can become a short sale expert.
Both foreclosures and short sales require an experienced Realtor to help you get to settlement successfully. In addition to that, you must have someone that you can communicate effectively with and get along with, as well as being able to depend on them to be proactive on your behalf. You will want someone who is honest with you about the marketplace and any properties you see, and they will expect honesty and clear communication from you as well. Email or call anytime if you have any specific questions.
Please also check out my profile, website, and LinkedIn profile.
We just got one contract on Bank Owned ratified yesterday and another on a short sale in Ashburn. Please email back if you consider our teams with a dedicated buyer agent. check out our website.