My Motto

To Live, Laugh and Learn, and in no specific order



Thursday, July 22, 2010

My very first blog

Hello world, this is my first attempt using a blog. All I hear in the real estate world is that you need a blog to stay current, so here goes.

I've been working on a shortsale on a listing of mine since April, and if all goes well we are supposed to close tomorrow at 2:00. This was my first short sale, and actually it wasn't too bad. I had a great contact at Bank Of America (Equator is the third part site they are now using for short sales) that has explained step by step how this will work. So keep your fingers crossed, but its all up to the buyers lender right now.

Actually short sales is a great way to get a wonderful home at a greatly discounted price if you have the time and patience to work thru the system. Not everybody can wait 3-4 months and sit on pins and needles until its finalized. The buyer in this case has been renting, and is on a month to month lease, so this process was great for them. It wouldn't work as well if you sold your home and need to be out before the short sale process is finished unless you can go into storage and find a short term rental. So for those of you that can be flexible.....take a good look at buying a short sale home.

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