My Buyers' Short Sale Problem
By Brien Berard, Maryland Real Estate Agents - Laurel Real Estate
(Remax Professionals Laurel MD)
If you buy Laurel real estate, don't let this happen to you. My client insisted on looking at a particular short sale property. She listened to my warnings about them, but we viewed the property anyway. The home was very nice and my client decided to make an offer. I spoke with the listing agent who seemed very positive about getting me a prompt response from the seller and the bank. This short sale had two loans on it, a first trust and a second trust. The listing agent assured me that once the first trust agreed to the sales price, the second trust usually agrees fairly quickly. The danger in dealing with a short sale that has two loans on it, is the second trust not cooperating in a timely manner. It is understandable that the second, smaller, trust would take longer to agree ...
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