A hot topic: Why do Short Sales Take So Long?
As home values have dropped by 20-30%+ in Jacksonville and Ponte Vedra, FL, many of the real estate transactions taking place are Short Sales. The only thing short in a short sale is the amount of money to cover the existing mortgage. By nature, short sales are Long Sales interjected with frustration, happiness, frustration, and back to happiness. They take forever.
So why do Short Sales take so long? I've attempted to answer this question in a 2 part answer:
Answer Part 1: Understand the volume. After all the red tape and big bank shenanigans to try and get you to make just 1 more payment, there is a person at the end of the line that is the "negotiator". This persons job is to look over the…