Cleveland Home Buyers Try To Avoid Short Sales. And miss many real good opportunities. Why?
There are few basic fears and myths:
- Short sales take indefinitely longer than any other sales
- Contract price in Short sale can be challenged by lender
- You can not do real due diligence in short sale situation
- Property may be damaged or even vandalized and no one will be responsible for this.
There are few serious reasons for existence of these fears and for buyers' desire to avoid Short sales in Greater Cleveland:
- Inventory of bank owned homes in Cleveland has been bigger than inventory of short sales.
- Home buyers and their agents prefer to buy foreclosures rather than short sales because of more simple procedure and more predictable outcome.
- Many Real Estate agents have no experience and training in dealing with short sales on the buyer's side. Many home buyers lose patience and quit the short sale deals because of lack of guidance from their agents.
- Some listing agents do mistakes in sellers' qualification, pricing, documenting, and submitting the right package to the lender for approval.
- Some listing agents do not care about cooperation with the buyer's agents and lose the deals because of lack of leadrship.
- Many home buyers and their agents are not aware of changes in banks' attitude towards short sale.
- First time home buyers do not want to jeopardize the eligibility for Home buyers tax credit and do not even consider short sales as an option.
However, in many cases home buyers get the great houses at Short sales and never experience any of nightmares.
We have a very recent experience in getting a short sale approved by the lender within 3 days! Very responsible owner took care of the property, so not only the first time home buyers got a great house in a very nice move-in condition, they also got it for a very competitive price!
Good news is that we have one more great short sale listing for you. Excellent condition, very diligent owners, very cooperative lender and great price! Add to this our experience in dealing with short sales, strong and proven procedures, and cooperation with very experienced in short sales Title agents.
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Svetlana Stolyarova
Local-n-Global Realty (440) 2475388 Realty@Local-n-Global.com http://www.Local-n-Global.com   
Listed by: Local-n-Global Realty |
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