Did you know? Only 5-15% of short sales are successful?

May 22, 2009

Many sellers come to us to acquire their property after they have tried the short sale route and failed. Did you know that most short sale transactions fail?

According to research firm Campbell Communications, only 23 percent of short sale transactions are actually completed. “Three out of four potential short sale transactions fail, principally because the mortgage servicer takes too long to respond to the offer,” said Tom Popik, author of a February survey of real estate agents. “When these same properties are later sold it further depresses real estate prices.”

This is why we do not wait for the bank in our acquisition process. We acquire the defaulted asset up front, subject to the defaulted mortgage, and then begin a legal defense that gives us tremendous leverage with the bank. Why should you care? Because your property is sold up front, and you dont have to wait to see if an ‘offer’ is going to fall thru, like it does 4 out of 5 times with the bank.

To read more about why 4 out of 5 short sales fail, please click HERE

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