The front page of U.S.A. Today on August 5th reported that buyers for Short Sales are walking away from their offers because the lenders are taking such a long time to make a decision.
Months may pass while buyers and agents deal with lenders’ lengthy delays, lost documents, and unreturned calls. According to the National Association of Realtors, not all of the problems are caused by the lenders. Inexperienced real estate agents who fail to turn in accurate paperwork are also causing holdups.
At Century 21 Sea Coast in Encinitas, we have an experienced team of Short Sales experts (agents and document coordinators) who will complete your short sale in a timely manner. Agents such as Marily Dashe at Century 21 Sea Coast just received bank approval from Wells Fargo on two different loans for a Short Sale in 28 days. The entire deal will be completed in two months.
Century 21 Sea Coast understands the forms needed by each particular bank and the process required to contact the negotiator for each loan and to escalate the process as necessary to get the job done.
It is very important to homeowners with distressed properties to get the short sale closed and avoid foreclosure. A homeowner who has gone through a short sale typically can get a new home loan in two to three years while the owner of a foreclosed property may wait seven years.
Please call Marilyn Dashe at Century 21 Sea Coast in Encinitas if you or someone you know has received a Notice of Default and would like to start the Short Sale process. It works if it’s done right!