Gatlinburg Real Estate Short Sales ARE Now Sometimes Worth the Effort
For several years I have avoided short sales like the plague because they were rife with problems. All too often we would work diligently to find a prospective buyer only to be delayed for months by the lengthy and difficult process of trying to get the seller's lender to accept a payoff of less than what the lender was owed. In fact, until recently there was nothing short about short sales when it came to the typical elapsed time from contract to closing. In one extreme case we had a couple of years ago the buyer's offer was in negotiation for several months until the property was foreclosed on anyway by the seller's intransigent lender. Fortunately, this is now changing and short sales no longer have to be a long headache for all of the participants. Because of the sharp drop in value from the lofty heights we reached during the real estate bubble, many sellers are finding that their homes are worth (sometimes substantially) less than their outstanding mortgage bala...