Many people wonder why a bank would want to do a short sale. There is a common perception that banks don’t want to do a short sale. However, this view came from agents that didn’t want to deal with the difficulty of handling a short sale. Having completed lots of short sales, we can tell you that banks want to do short sales.
When a bank forecloses on a home, they must insure the home, maintain the home and sell the home. Also, when a bank sells a foreclosed home, they tend to get less money from the sale than they would if they accepted a short sale. Banks also understand that if you do a short sale, you will be in the market to purchase a new home much sooner than if you foreclose.
About Jeff Green
Jeff listed and sold his first short sale in early 2006 at the beginning of the Real Estate Recession. While other agents rejected short sales because of their complexity and the work involved to successfully complete them, Jeff embraced them as a rewarding way to help home owners who were facing difficult times.
About Jeff Reyes
Jeff Reyes has been a REALTOR since 2009. In just six short months from starting his real estate career, he dominated the local internet traffic for short sales and started writing a weekly real estate article for the local newspaper. It is Jeff's passion to inform and equip the local community to be able to make smart real estate decisions. Outside of real estate, Jeff's major passions are vacations and his family.
