Home Selling in 38351>Question Details

Linda Lipsco…, Real Estate Pro in Lexington, TN

Any success with short sales???

Asked by Linda Lipscomb, Lexington, TN Fri Oct 22, 2010

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7
I answered this question when it was originally asked almost two years ago.

I just closed a short sale in San Jose two weeks ago.

I am managing two short sale listings that are in escrow in Fremont now.

I will be listing a short sale in Pacifica soon.

“The Beat Goes On”
0 votes Thank Flag Link Fri Aug 17, 2012
Yes - Short Sales are common here in southern CA and I think they are pretty easy. The key is the agent's experience dealing with the banks.
0 votes Thank Flag Link Tue Aug 14, 2012
Yes! Short sales can go smoothly and successfully and usually close within the specified amount of time in the accepted contract if the short sale paperwork that the sellers remit to the mortgage company is done before the home is listed on the market for sale.
After a offer is received, the mortgage company will have a complete package to get to a negotiator, that negotiator will be your point of contact and will help you successfully close your listing.
0 votes Thank Flag Link Tue Aug 14, 2012
Yes, short sales do close. I use a short sale company that handles all of my short sale listings. They also are the title company. They do not charge anything to the buyer, seller, or Realtor to process the short sale but charge to do the title search. They keep me posted through e-mail of any communication related to the short sale. I have also encountered problems with short sales where the buyer or seller backs out. They are time consuming and can be frustrating, but they can happen.

Tammy Hayes, Realtor, Sandals Realty, Punta Gorda, FL
0 votes Thank Flag Link Tue Oct 26, 2010
Linda, Here in Crossville, TN we have not been deluged with foreclosure and short sales. Our agency experience is that its a lot easier to sell regular inventory, which we have plenty of, than to go through the maze of a short sale. We avoid them whenever possible. Come visit us in the Golf Capitol of Tennessee. DAVE
0 votes Thank Flag Link Sat Oct 23, 2010
I've been doing short sales for about 5 years and they are now a major part of my business.To negotiate them yourself it takes a lot of work, patience, knowledge, and the right personality to get results. To be really successful with short sales takes about 50 listings, 3rd party negotiators, and a buyers agent(s).
0 votes Thank Flag Link Sat Oct 23, 2010
I have successfully closed short sales for both buyers and sellers. They are a lot of work. They require great patience on the part of buyers, sellers and agents. They are a huge part of our first-time buyer market at this time.
0 votes Thank Flag Link Sat Oct 23, 2010
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