BANKS KEEP MAY SECRETS
Here's why: while the banks agree to allow for the short sale, rarely will they ever tell the listing agent what they will accept for the property.
Listing agent must simply guess. .
So, as you can probably guess, the quality of the listings will vary greatly.
The moral of the story is here if you see an incredible deal, but says it is a short sale, not too excited! They carry a lot of disappointed buyers! The good news is that an agreement had to, that will buy time to , buying a short sale.
Because the banks don't want to foreclose if they don't have to, they will accept a discount on the properties -it seems to be at 90% of what they deem to be market value.
Foreclosures already in possession of the bank are often better prices, but.
Banks hate to have property in their portfolio.
Are not to possess the real estate business, so once was lost, that they get rid of it, short sales, which do not need their property yet, so that the reasons for the speed not a factor at all.