I attended a webinar done by Bank of America last Wednesday. Several of us in the office watched and reflected how this affected our real estate business in Kansas City. Short sales are constantly changing. Two that I was involved in last summer now seem like ages ago. Earlier this summer we saw a cracking down by most mortgage companies on the requirements and prices they expected. Now the federal government has even gotten involved and created a “steamlined” short sale if you can believe that. I will we attending a webinar next week on this topic. Come back then and read more about it.
Seems Bank of America is trying to create a web portal whereby the consumer and the agent will have access to Bank of America resources to help with their short sales. I know it is confusing and sometimes downright deflating to be involved with a shortsale and seem like no one knows what they are doing. Work can now be done at the beginning of the time a seller puts the property up for sale, tasks can be assigned to all parties to complete and expedite the process.
For a FREE report on the Short Sale Process in Kansas City click here. Most principle remain the same or similar to what they have been in the past. A good agent and counselor will help you through this.
If you want to BUY a short sale property it is a great time to do so, but be patient, the emotional turmoil the seller is far greater than a what a buyer goes through.
But they continue to be a huge part or our current real estate market in Kansas City.
More later… Next Week “HAFA” the government version…