The times may be changing for transactions involving distressed properties as more banks become open to short sales and federal and lender changes are put in place to make them more attractive and efficient.
- Stay up to date on the guidelines
- Be aware of new incentives to encourage short sales
- Educate consumers and share success stories with positive outcomes
- Be pickier about the short sales you choose to list
Illinois REALTOR® talked to Illinois short sale attorney Dennis Bordyn, of Bordyn Law Offices in Downers Grove, who said that while there is a push to get short sales processed, it is important to remember faster is not always better.
“A short sale is just like any other real estate transaction,” Bordyn said. “Your goal in representing the seller is to get the best possible price from the best qualified buyer.”
You can learn more about what Bordyn has to say about short sales at this week’s IAR Fall Conference, Oct. 2-4, at Pheasant Run Resort in St. Charles. Attend his session, “New Trends in Short Sales,” on Oct. 4.