About two weeks ago I went to a short sale seminar sponsored by Grand Canyon Title company. I learned a lot in this seminar. In this market real estate agents are increasingly being asked questions on short sales.
Dan Forbes (Real Estate Zoo) posted “10 Short Sale Questions Answered by a Bank Loss Mitigator” over on his Active Rain Blog. Dan summarizes a conference call he was on with a bank loss mitigation officer. Here is a snapshot:
2. How many Short Sale files are you working on? Answer: I am currently working on 400 files.Â
4. Does the type of hardship the Borrower is facing make a difference? Answer: Not really.Â
6. Do you simply reject low offers? Answer: Not really. We do have certain targets we are trying to reach.
9. Do you require a home to be listed before accepting a short sale? Answer: No the home doesn’t have to be listed. We will talk directly with the buyer/investor. We don’t usually talk with the borrower.
You’ll have to visit his blog for the complete run down.
Below are some other relvant blog pieces on the emerging short sale phenomenon:
- The Resurgance of Short Sales (Greater Tucson Real Estate Blog – Valorie Bradley)
- Preparing for a Short Sale in Phoenix Real Estate (Phoenix Arizona Real Estate – Jonathon Dalton)
- Troubled Homeowners Are Finding a New Way to Sell (AZ Republic – H/T Arizona Real Estate Notebook)