SHORT SALE STRATEGIES FOR INVESTORS AND OWNERS

As we rapidly approach the middle of the year lenders are still maintaining huge inventories of pre-foreclosure properties.  Many investors, real estate professionals and analysts wonder when will this inventory be reduced? We submit short sales for investors, and agents,  to major lenders on a daily basis. Despite the record inventory and the shadow inventory, short sales are still being parsed out.

In order to obtain a short sale approval you must run a gauntlet of lender red tape and hurdles. The system is still woefully inefficient, lacks uniformity and herculean  requires diligence and perseverance to obtain an approval. Whether you are trying to navigate Bank of America's Equator or any other lenders system the lack of coordination, uniformity and coherency is obvious.

I do not recommend that a agent or investor negotiate his or her own short sale. Short sale negotiation is an art form. A well negotiated short sale will result in the investor or owner achieving a substantial discount from the
projected fair market value of the property. Selling or buying a property is a completely different animal from obtaining a short sale approval.   Here is a article with links that illustrates the complexity of obtaining a short sale approval. If you need competent, efficient short sale support call me at 267-205-6101.