So we now stand at
Short Sale 1
With a short sale the seller needs to make certain disclosures. REO's are exempt.
Short sales take longer. REO's quicker for response and close.
Short sale may be difficult to get seller out. REO usually vacant.
Short sales perhaps has been maintained and utilities on. REO - perhaps not.
Short sales no guarantee that the seller will leave the property as the buyer expects. REO buyer pretty much knows what it's going to look like at closing.
Short sales take so long the borrowers interest rates may go up while they wait and loose the lower rates if it never closes.
BG puts a point up for foreclosures since in their opinion Shorts have a lower tendancy to sell. Good point. If the listing agent does not know what they are doing it could be a waste of time.
Suzanne puts a point up for Shorts because of the potential deferred maintenance that a buyer may have to pay which could eat up the costs savings of the purchase price.
WE ARE TIED AT 1 A PIECE. WHO IS NEXT TO WEIGH IN??