Short sales are a joke

Short sales are a joke in my opinion. I saw a stat that said about 20% of short sales ever come to fruition. I find it hard to believe that number is even right.The whole process is a joke the banks have buyers and sellers waiting in limbo on offers that will not be approved. They treat real estate agents like crap, the sellers like criminals. There is just homes sitting on the market that have no chance of selling. If you dont have the ability to handle the short sales then start the forclosure process and move on.

This is a real live situation I dealt with the.We had an offer of $375,000 and this was pretty much the buyers top number.The short sale negotiator told me the buyers need to be around $400,000 and their bottom line the bank needed to net was $365,000 , on the hud that was sent the total costs were estimated at $17,000

Was it dumb of me to ask then why we need to counter back at $400,000? I was no math major but do these numbers make any sense to you?

The negotiator then went out to say to me I don't know how many ways to say it but  the buyers need to be at $400,000 or it will be denied for inufficent offer.

I am glad I don't deal with short sales often and I will pass on any future ones that come my way. There is no ryme or reason to how they are handled by the banks and the whole process is a joke.

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