By Ruben Arturo Triana, Property Management that's on Target
I speak to several agents who all agree that the banks have no clue as to what to do with short sales. They all ask why do they take so long to make a decision on a "no brain-er"? For example, we are asking for a short sale on a home with a 1st and a 2nd. The first will be paid 94% of what is owed and 2nd agrees to accept $3,000. Yet the 1st is dragging their feet for the approval, 5 months. We as agent think, what is the hold up, why can't they see this is more profitable to short sale than to foreclosure. My thought is that the people in charge of the bank are not making the decisions. It is a person making $13 an hour with hundreds of file who could care less which is more profitable. So be friendly to everyone you speak to you just may get somewhere.