Sarasota Real Estate Market News

Short sales get a boost from foreclosure glitch

“…In a surprising twist, the foreclosure issue has created a new opportunity for buyers and sellers of short sale properties. In a classic case of one person’s lemon being another person’s lemonade, the banks have finally awakened to the fact that a short sale on a property is preferable to idly standing by and allowing it to slide into foreclosure. Suddenly, a growing number of short sales have gone from being lengthy and frustrating-with absolutely no guarantee of a successful outcome-to transactions in which a more streamlined process is now promoting faster turnaround. Sellers achieve their objective of ridding themselves of a property they can no longer afford, lenders typically net more proceeds than if the sale were a foreclosure; and buyers achieve their goal of big savings.”

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Short sales get a boost from foreclosure glitch

November 3, 2010 - Posted by | News related to Sellers, News related to Short Sales and Foreclosures

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