Challenges involved in buying and selling short sales in Vancouver Wa
Welcome to the world of distressed sales. In today’s market, short sales and REOs make up more than 40 percent of sales nationwide and far more than that in areas such as Southern California and Florida, where home prices have dropped significantly in the last two years.
The many challenges involved in buying and selling short sales in vancouver wa create what many practitioners are calling a new Wild West atmosphere that’s cooling their ardor to get involved in distressed sales. It turns your hair gray.
It’s also scaring away buyers at a time when prices and interest rates are low enough for consumers to snap up real bargains. The result is a lost opportunity for the industry to shrink its massive overhang of inventory. I have buyers who’ve told me, ‘I’m not doing this anymore because I don’t want to jump through these hoops,. So, we’re missing out on a big portion of the buyers out there.
Although hard-selling lenders are only one of the problems, they’re among the most common.
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