Banking Industry needs to Shorten the Tampa Short Sale

piggybankShort Sales in the Tampa Real Estate Market need some help.  What I believe is needed is government intervention to create a standardized method of processing these Real Estate Transactions from the Banks prospective.  So here is the deal.  If the bank approves a short sale, then it should follow a fast track to get the property listed, and sold.  If these banks are taking money from the Government to stay afloat, which they are, then they should have no problem processing these transactions.  This is where the whole slowdown is right now.  I have seen some Short Sales take as long as 6 months to process.  Granted, the Banking system was not prepared for this whole mortgage meltdown, but they have had ample time to reshuffle people around to handle the traffic, or they could hire an outside firm to handle the paperwork and the processing for a small fee.

And another thing, Mr Bank, stop nickle and dime-ing the Realtors that bring you an offer.  If they put it on the market and offered 6% commission (3% buyers/ 3% sellers) then honor that and dont say “I’m only gonna pay 5% which ends up equating to just a few bucks and throws a huge wrench in our Real Estate Systems.  We did all the work, we brought you a Seller, don’t bite the hand that feeds you, otherwise, you can try to sell it yourself….oh that’s right, you can’t…So knock it off!

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~ by ToughGuy on March 30, 2009.

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