The last few days I have been working with out of town buyers and on the phone alot with different Realtors in the Indianapolis area. Over and over again other Realtors shared with me their frustration with Short Sales and how much time and little money they make when they consider the hours it takes on the phone with the lenders. All of us know that it can take months to close. A couple of Realtors said they didn't think they would be showing or listing Short Sales it just wasn't worth it. I've had buyers leave even though I told them up front it could take up to 4 months or even longer depending on the lender and the investor.
The buyers I was working with trusted me when I told them Short Sales are not an option for them as they had to be moved up here by October 5th and it was just to much of a risk. Friends of theirs may not be so lucky as they told them proudly they were going to go look at Short Sales. They to are under the same closing guidelines but their Realtor was taking them to see Short Sales anyway. It is possible to close in a relatively short period of time but when its a must situation best to stear clear and find the property for your buyers that for sure will close in time.
Realtor frustration with the Short Sale situation here must be high as boy did they want to talk about it. We can all share our stories but have no remedy for the situation. Spending hours on the phone on hold with lenders, when we have so much to do is the process and is different from lender to lender but what happens if Realtors start not showing short sales? That would hurt the industry even more and hurt already distressed Sellers.
Indianapolis Indiana Short Sale Specialist.
Selling Indy Metro, LLC
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