Last week I talked about having a short sale right down the street from an upcoming listing. It’s not the greatest deal in the world, to have a house just steps away that’s being sold for less than what is owed on it, but it is what it is. My sellers are realistic, they’ve got a house that’ll be priced right and will show great, and we’ll continue on.
One of the emails I received over the weekend asked, “Is buying a short sale something you recommend?“. Kristina, if you’re ready for an interesting experience, then yes, buying a short sale here in the New River Valley is something I recommend. Three things:
I’m sure I’m not the first to repeat this to their clients, but I constantly remind my clients that one of the greatest strengths of a good agent is their ability to be an unemotional facilitator in the transaction. When it comes to short sales, both the homeowner selling the home, and the buyer trying to buy the home, need to ratchet up their ability to be unemotional, as well. It’ll take time, and it might be ugly at times, but if you’ve got the patience you can buy a short sale.
Updated 2/2/10 2:10pm – Danilo Bogdanovic just posted a good addition to this post, entitled “How Long Do Short Sales Take?“. If anyone would know it’d be an agent in the 51st state, Northern Virginia.