Tuesday, September 07, 2010

Short Sale delays and frustration

Sellers, buyers, and real estate agents of Short Sale homes (pre-foreclosure homes) continue to experience a high degree of frustration with banks.  Sellers' lenders continue to be unresponsive and typically take months to respond to an offer to purchase contract.  More often than not, Short Sale buyers get fed up waiting for an answer from the sellers' bank and end up walking away from the deal when they have the out to do so contract- ually.  Here's a link from an article in the Times Herald-Record this week depicting this exasperating process which many buyers are finding not worth the hassle. 

Additionally, the continuing frustration with sellers' lenders being unresponsive has prompted more than one video by real estate agents:

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