Every now and then you’re reminded why short sales get a bad rap. Actually, every day you are reminded. I wanted to share this story that we had experienced with a Suntrust negotiator while working on a client’s short sale. We did get it closed successfully by the way!
We’ve mentioned this before and talk about it quite a bit, but if your home is vacant, you can call it “Abandoned.” This video discusses how the bank does their evaluation and then shows you what happens to some people’s homes if found “vacant.”
Approved short sale might not be the most true wording in a listing. In fact, with some exceptions (Suntrust Short Sales) the “approval letter” has the name of the buyer. Which means at the very least you’ll have to get a new letter with a new name on it. In addition, most banks will send [...]
Common Real Estate Short Sale Misconceptions The bank owns the home – Nope! The home owner owns it until the bank takes it in foreclosure (or deed-in-lieu). All offers on the home go to the bank – Actually, by Georgia Real Estate Law, all offers need to go the seller. If the seller decides to [...]
Short Sales can be really simple, or very complex. Let’s us a real life example of a short sale we are working on with Suntrust. In this example, Suntrust is just a servicer, while another “investor” is holding the “investment” Suntrust takes orders from this investor which can delay the process significantly. This situation puts [...]
As the leader in Short Sales in Georgia, we’ve developed a list of banks that we do not like. Of course, Bank of America would be on this list but what others? Aurora Short Sale Aurora short sales have this impossible to understand practice of resetting the ENTIRE process once a new buyer is presented. [...]