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Real Estate Short Sales

Pertinent short sale update

Due to the shoddy title work that was done in the previous few years, many title issues are surfacing that are taking an inordinate amount of time to resolve and may, in fact, not be resolvable. There has been much talk about new rules and regulations that are supposed to make short sale purchases more "user friendly". These rules are in place, but, they are not necessarily being adhered to by the Lenders involved. Therefore, it is still taking a lot of time to move deals along. Additionally, FHA rules are tightening up for Buyers and properties. It is harder to get a Buyer qualified and distressed properties are not as easy to finance as they were in the past.

In sum, while short sales are often priced attractively, they are not for the faint of heart. They should be approached only by Buyers who have financing in place, have a strong stomach and are patient. Good luck!

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Client Testimonials

Agnes, Thanks to you and Ned and Ed for all your support throughout this process.  You walked us through this process and were very patient with us every step of the way.  Your willingness to work hard on this sale, even when your experience told us we had priced the house too high demonstrated how professional you and your team are.  Your frequent communication and honest feedback was so important to us.  We knew that you were the right agent for us when we asked for your honest opinion, before we signed a sales agreement, on what the house was worth.  You came back with a figure that was less than we hoped, but right on the money.  Other agents gave us inflated unrealistic figures. Agnes, you deserve to go around telling the doubters, “I told you so.”  They thought there were too many problems with the house for it to sell.  You proved them wrong and sold it in less than 60 days - not the 500 we were prepared for.   Thanks for everything.  We’re coming to you for our next move - hopefully it will be awhile :)  

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