Short Sale Myths

Alex Charfen, president of the Cerified Distressed Property Expert Program, tells us the 7 most dangerous short sale myths: 1. short sales are impossible and never get approved–MYTH 2. Banks are not accepting short sales–MYTH 3 A Borrower must be behind on payment in order to negotiate a short sale–Not necessarily so 4. Buyers are not intersted in short sales and avoid them–NOT 5. Agents can’t make money with short sales–Untrue 6. Banks would rather foreclose than bother with a short sale–Are You serious?? 7. there is not enough time to negotiate a short sale before foreclosure–Let them know you’re trying to sell and many lenders will forestall a foreclosure. Keep working at it till , as Alex says: “the gavel falls and the property is lost”. If you or anyone you know find yourself in a situation leading to foreclosure, run, do not walk, to get help from a Realtor versed in short sales. It is so worth it. Peg