As recently as a few months ago, if you would have told a real estate agent who specialized in short sales that they’d be raving about a lender’s stellar service and rapid approval times—not to mention cash incentives for financially strapped homeowners for successfully closing a short sale—you’d have gotten some strange looks.
That’s all changed. And it’s changed faster and to a greater extent than most real estate professionals ever could have imagined.
With bank-owned properties dragging down the recovery of the real estate market, as well as the national economy, major lenders are more eager than ever before to avoid foreclosure – they’ve sharpened their focus on short sales big time.
The biggest lenders in the country have staffed up to ensure faster processing of short sale applications. They’ve ponied up with cash incentives at closing for homeowners who pursue a short sale. And they’re proactively reaching out to RE/MAX and CDPE agents to put them in touch with delinquent borrowers.
This is big news and the media has not really caught onto it yet. What’s important for you to know is that whatever you’ve read or heard in the past about long lag times and frustrations with short sales is changing.
As a member of the CDPEAdvanced community, we’re tapped into major lenders and on top of major developments affecting short sales and bank-owned properties.