Not every short sale ends up at the closing table. Many homes instead end up in foreclosure. Often the reason is simple. The homeowner did not use the right professional to represent them. Whether buying or selling a home, the best results come when you use the right people. This is critically important for short sales.
The attorney or real estate agent who did a great job for you when you purchased your home are not necessarily the best choice now. The skills needed to do a successful sale if you are upside down in your house are different. It’s not at all the same.
Short sales are arduous transactions that take a very long time. They require a tremendous amount of work and patience on the part of everyone involved. The individual who negotiates with the bank directly is key. That is the person who achieves or loses the opportunity get the home sold. It really is as basic as that.
If you are buying a home that’s a short sale, you also need a professional in short sale transactions. There are special protections you must have that don’t exist in conventional transactions. You must have an attorney who is expert at this so you are fully protected. Because these transactions are so different, you need an expert attorney to explain all the issues involved.
Sometimes a short sale is not the best idea for you whether you’re a buyer or a seller. Without an expert’s advice, how can you analyze what’s best for you? I have done several short sales successfully. What I can tell you is that without the help of short sale professionals, I could not have achieved the success I did. If you need the name of a short sale professional, just let me know.