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2011: Short Sale Help

Published February 3, 2011 in Bank America Short Sales - 0 Comments

When a homeowner considers a short sale one of the first steps is talking with a Realtor.The Realtor can put together the right plan to generate interest and hopefully gain an offer, But is it enough?.  The problem today is many buyers steer clear of short sales.

Why do buyers avoid short sales? 

Here are a two main reasons a buyer won’t pursue short sales in 2011:

  • Difficult to close because lender must approve the loss
  • Too much competition from bank owned properties

If you need a short sale what can you do?

An unconventional approach that gained more popularity in 2010, and certainly will in 2011, is to work with a local short sale investor.  A local short sale investor can bring a number of benefits to the table for the homeowner.  They may be the type of knowledgeable buyer that is needed to avoid foreclosure.

Working with an investor, can be one of the best options for the homeowner because the investor usually has a much better understanding of the difficult sales process.  In other words, it means the investor is more likely to stay in the transaction until it closes   This, of course, means a better opportunity for the homeowner to avoid foreclosure.

The next question may be: How do I find a local investor who is experienced with short sales?

The answer is actually quite simple: Just search the internet for an investor.These investors are out there. They’re located in every market and looking for properties to buy.

To find your local short sale investor you can use Google of Yahoo.  Search terms such as “short sale” and your city such as Phoenix Short Sale for and investor such as ShortSaleHelpMaricopaCounty.com, or Los Angeles Short Sale for an experienced team such as FreedomShortSaleBuyers.com.  Or try something like Dallas Short Sale Realtor for a knowledgeable Realtor with investor connections such as dallas-shortsale-realtor.com. 

 

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