Short Sales, a Win-Win? Not Quite. – Developments – WSJ

Well, not quite. Short sales have been underutilized, real-estate agents say, because they’re time consuming. It can take months to get a bank to sign off on a short sale, which is a lot longer than some buyers are willing to wait. Realtors say that banks also try to reduce their commissions on a short sale, which means that the process can involve less pay for more work. “As a Realtor, most of us avoid them like a plague because we all get burned,” says Brett Barry, an agent with Realty Executives in Phoenix. Continue

Posted by Eureka Expert on May 15 2009. Filed under Housing, Short Sales. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry