Home Buying in Cincinnati>Question Details

Dawna, Home Buyer in Cincinnati, OH

Has any one done a short sale with Citywide Mortgage? Can they be difficult to deal with?

Asked by Dawna, Cincinnati, OH Thu Jan 29, 2009

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Dawna:

I have not worked with Citywide (never heard of them), however no short sales or foreclosures are a picnic to deal with. Expect delays-it may be up to 60 days before you receive a response. And, you may never recieve a response. If you decide to put an offer on one, make sure the timelines for inspections, etc. begin AFTER lender short sale approval so you do not spend money if it is never approved.
0 votes Thank Flag Link Wed Feb 11, 2009
We have done many short sales... and yes they are all hard to deal with. The key is having an agent that HAS EXPERIENCE with short sales... if you are not working with an agent that has experience you will not be protected as they will not be familiar with all the many problems and different situations that will come up. Things as simple as how to write the initial purchase offer to protect you, etc.

A lot of the success of a short sale depends on the listing agent but you need an experienced buyer agent working for you that understand the process...

If you are serious and would like help please contact me and we will work with you to navagate the process...

Mark

http://www.MarkRyanGroup.com
0 votes Thank Flag Link Thu Feb 5, 2009
Dawna I havent,the key is if its listed,and two if the agent on the listing is experienced,having correct paperwork,etc...Good luck

Regards;

TJ
Web Reference: http://tjroberts.remax.com
0 votes Thank Flag Link Thu Jan 29, 2009
Short sales can surely test even the most patient people. The problem is mortgage companies are overflowed with working out these types of situations and there are many approvals needing to be obtained from many third parties.
You must prepare yourself to deal with delays...but you could find yourself a great deal!
0 votes Thank Flag Link Thu Jan 29, 2009
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