Short sales have so many ways in which they can go wrong. Many short sales simply never close after several weeks or months of work. This is a fact that every buyer needs to completely understand. If you are purchasing a property and must close by a certain time, then a short sale is probably not your best option.
A lot of the reasons for the fallout depend on the seller. To qualify for a short sale, the seller must submit all of their financial documentation AND prove that that currently have a financial hardship. Many sellers donâ€™t submit the proper paperwork resulting in delays. Some sellers cannot demonstrate the required financial hardship. If a seller files Bankruptcy during the process, that will cause a delay. There are countless things that can and often will go wrong. Some can be overcome, some cannot. No Listing Agent, no matter how good they are, can control every action of a seller.
A short sale is VERY time consuming for all parties involved. A Buyerâ€™s Agent has absolutely no control in the short sale process. They are solely dependent on the Listing Agent and the seller.
Rodney Mason, NMLS #151088
Sr Loan Officer
825 Juniper St NE, Atlanta, GA 30308
Office: (404) 591-2453
Apply Online at http://www.rodneymason.com
Licensed in Alabama & Georgia with over a decade of lending experience.
Prospect Mortgage offers a full selection of mortgage programs including:
Conventional | FHA | FHA 580-639 FICO | FHA 203K Renovation (Streamline & Consultant) | HomePathÂ® | HomePathÂ® Renovation | HomeStyleÂ® Renovation | VA | USDA | GA Dream | Jumbo Financing.
I hope you are not making her life miserable.
The Bank has absolutely no obligation to hurry this up for you.
In fact, the Bank has no obligation to say YES!
You should go back to being patient; you were patient before, right?
Fred Yancy, Broker