Bargain hunters…get ready to relax

With people reading about the plethora of short sale homes and foreclosures all across the nation, it makes sense to me that you will want to try and snap up one of these “good deals” here in Salem Oregon Interest rates are still low, and you think that a short sale is the way to go.

You give me a call because you are spurred to action to purchase one of these homes.  We get you preapproved for a loan and head down the path of short sale roulette…

You can go from one short sale to the next trying to get that good deal only to have lenders turn down your offer.  You scratch you head thinking, “Doesn’t the bank read the paper?  Hello!  It sucks out there!” Please understand that purchasing a short sale is not for the weary or people that need to find a home NOW.  Short sales can close in 30 days or 120 days…it all depends on the lender and the quality of the listing agent.  A listing agent that doesn’t know how to put together a short sale packet for the lender can make a deal be rejected.  One missing document and it is kicked back, only to start all over again.  How about waiting two months to hear on a short sale only to find out that the hardship letter wasn’t attached…nice…

I have seen some nice short sales here in Salem Oregon…don’t get me wrong.  BUT if you are not a patient person or can’t stand irrational rejection (yes some lenders reject perfectly good offers for no apparent reason) than this game is not for you.

So to all the bargain hunters out there…get pre-approved, put on some comfy clothes, look at some houses, write up an offer, then wait.  I suggest supporting your local business in the meantime…grab some coffee, head to the bookstore for a book, and prop up your feet.  Try and relax.

You might be waiting a while for the bank to respond.