Job Relocation Short Sale with Suntrust

The banks are starting to get more realistic on the housing market and short sales.  People move for a variety of reasons but it's almost always due to a life change: Job relo, marriage, divorce, growing family, empty nesters, loss of income, gain in income, etc.

None of these life changes are going to stop happening in ANY economy....good, bad, or neutral.

Unfortunately, for too long the banks have been unrealistic about allowing short sales on some of these life changes, but those times have changed.  A job relocation is not something that should ever keep you from moving up and out if need be.  If you can keep your old house, keep it and rent it.  If you don't have the ability to handle the financial impact of having a rental property, then you have to sell the house.  By the way, EVERYONE under estimates the cost of having a rental property, myself included.

This short sale was a job relocation.  The job was better, by far, and a must go situation.  The bank was Suntrust.  Suntrust is really not that good with short sales, and that's heavily frosted with sugar!

Like so many short sales with a bank like Suntrust that takes 90-120 days to get an approval, the first buyer walks at the end of 90 days just to have the approval come in only a few weeks later.  Luckily we sold it again for the bank approved price, and went to took a while to get to closing on this one.

At the end of the day, the seller got out of a house heavily underwater and the buyer purchased a great home that had been well cared for in a great neighborhood.

Another successful Suntrust Short Sale!

Posted by Brad Officer on
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