One of our most recent posts (“Back on the Market”) was about 2090 Brickton Station and how it come back on the market. Are Banks Still Accepting Short Sales? YES! The challenge with short sales has actually never been the bank’s willingness to do them, it’s been either the seller’s lack of knowledge (or the listing agent they chose) or the buyer backing out of the transaction. This is why the Jarvis Team has a 90% success rate with short sales.
I know some people wonder Are Banks Still Accepting Short Sales? because they heard that the tax exemption will end or that HAFA ended but the truth is, that they are still vaiable. They are and they probably will for at least another year or so.
It’s still the best option for those under water and struggling to make the mortgage payments. Obviously, selling traditionally is the best but a short sale is the next best option for those in a hardship.
Just because banks are still accepting short sales doesn’t mean they are easy. In fact, although the process is more streamline, the qualifications are a bit tougher. You need to be able to demonstrate you cannot afford the home with your income (do not count savings).
Contact us if you have any questions!