Short sales, foreclosure, more questions than answers

Short sales, foreclosure, more questions than answers

Are you, like so many others, confused about short sales or “fire sales”?

Here in St. Petersburg Florida we have seen a lot of short sale listing lately and, yes, the concept has been around for a long time, but even I as a Realtor did not run into one for the last 10 or so years. Now they are everywhere in Pinellas County.

Well, I am one of these personalities that “NEEDS” to understand everything, early last year I went to a seminar on short sales. Guess what, they could not even answer half of my questions. Every second time I heard, “well, you got to talk to the bank about this” As you can imagine, I was very disappointed, but now I was one a mission to learn more. Since than my office has done quite a few short sales, on the buyer’s site and the seller’s site and what I learned in the very beginning is true.

YOU HAVE TO TALK TO THE BANK.

Every bank, lender or financial institute has a different policy on short sales, different time frames, and different attitude. It is complicate and can be very frustrating to find your way through this  “Jungle”, but it can be done.

The key is persistence and focus and timing.

If you are the buyer or seller find a good Realtor or lawyer to assist you. This is important. Take one piece of advice from this post.

Short sales can be done successfully, but do not think you can do them alone.

You need a professional at your site.

Short sales, foreclosure, more questions than answers