Short sales are becoming the preferred method for banks to dispose of properties in default. Homes that were either bank-owned or going through the foreclosure process accounted for 24% of all home sales, up from 20% in the previous quarter- something banks don’t want. When banks own houses, that means they have to take care of them and they don’t want that burden. They want what they are good with: money. As a result, banks, such as Bank of America, have started to accept more requests for short sales, which had double the amount of short sales when compared to 2009. According to RealtyTrac, a company that monitors the national housing market, short sales saw a 33% increase in January 2012 when compared to the previous year.
What does this mean for current sellers?
If you’re trying to sell your home because you are having trouble with your mortgage, it may be beneficial to you to explore a short sale instead of waiting for a foreclosure to take effect. Short sale deals are completed more quickly. During the fourth quarter of 2011, it took an average of 308 days to complete a short sale. Foreclosures, meanwhile, can take years to complete. That’s where Kendall Partners comes in. We can speed up the process even more because we are a CASH BUYER. That means you don’t have to wait for someone to sell your house. No buyers backing out due to financing issues, and it puts you in more control with the banks if you have someone to buy your home NOW with CASH. The best part is – with Kendall Partners trying a short sale there is NO RISK to you. You always have the final decision if you want to go through with what your bank agrees to.
Contact Kendall Partners TODAY to discuss Short Sale options for you at (630) 882-3339 or visit your new home at KendallPartnersLtd.com!