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Short Sales Are Finally Short.
Short Sales are finally starting to live up to their name and getting approved by Banks in shorter amounts of time.
This still depends on the Bank you are dealing with and obviously on the skills of the Realtor negotiating the Short Sale. Some Banks have gone as far as creating a new Liasison position to cater the Realtor's experience while negotiating the Short Sale.
Some Banks have also come to understand the true benefits of a Short Sale and have started giving cash incentives to Sellers at the closing table; in some cases as high as $30,000. These new Bank cash incentives coupled with the Federal HAFA program which provides primary home owners with $3,000 in relocation costs have made Short Sales a new win-win situation for all parties involved.
by Jose F. Lopez (Broker-President) JFA Realty Company
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