Short Sales = Heartburn

In todays market more and more Sellers are taking the route of Short Sales. Definition: short sales are defined as a transaction where title transfers; where the sale price is insufficient to pay the total of all liens and costs of sale, and where the seller does not bring sufficient liquid assets to the closing to cure all deficiencies.”

Basically the seller can’t pay their bills, is trying to sell the home for less that what the bank has lent that Seller and praying it an happen in a timely manner. This is the step just before the bank going into foreclosure which is different topic in itself.

Some facts: Short sales are on the rise, banks are under staffed and the ones that have control over the short sale at the bank has a stack of short sales a mile high on their desk. Then how does your short sale get near the top of the pile, the attention it needs and expedited in a timely manner and approved by the bank? I use the Platinum Group to handle all my short sales once I get a listing and contract.

There is a lot of emotions and expectations with dealing with short sales. then lender are tough to deal with, the buyers are anxious for an approval of the contract within a particular time frame. Short Sales are a great opportunity for buyers to get a wonderful home at a discounted price. If you don;t use the Platinum Group you could be loosing more than just sleep, you could be loosing a great deal. .

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