Although my own experience working with clients has varied, short sales seem to be losing some appeal. The reason is buyers are complaining the sale transaction process is taking too long.
I can attest recently that my clients decided to forego their offer when the second extension period had lapsed. On the flip side of the coin, recently I have had satisfied customers who had a relatively quick turnaround time and enjoyed the discounted price the short sale offered.
The approval time for short sales can take several months after the potential buyers submits an offer. According to the HousingPulse Tracing Survey, the average time for short sales is 16.6 weeks. The survey found the majority of this time is spent waiting for approval from the lenders.
If you are thinking of selling or buying a home, or require more information, please text me or call me at 561-247-3550. Please text or call to give me your name, telephone number and e-mail address for the ability to access home searches.
Michael Friedman
Realtor, Certified Distressed Property Expert (CDPE)
Member of Who's Who in Luxury Real Estate
Lang Realty
561-247-3550
Boca Raton FL real estate for sale and surrounding areas including real estate properties for sale in: Belle Glade, Boca Raton, Boynton Beach, Bryant, Canal Point, Dania, Deerfield Beach, Delray Beach, Fort Lauderdale, Hallandale, Hialeah, Hobe Sound, Hollywood, Indiantown, Jupiter, Key Biscayne, Lake Harbor, Lake Worth, Loxahatchee, Miami, Miami Beach, North Miami Beach, North Palm Beach, Opa Locka, Pahokee, Palm Beach, Palm Beach Gardens, Pembroke Pines, Pompano Beach, South Bay, West Palm Beach, Lang Realty
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