Lenders paying Sellers to do Short Sales? | Richmond VA Short Sales

Yes, it’s true. According to this article in USA Today, some lenders are finding it more advantageous to offer cash incentives to underwater borrowers to put their home up for  short sale rather than take the property back at foreclosure and have it sell for even less. We haven’t seen these with any of our Richmond Va Short Sales, but who knows. I’ve always been a firm proponent of lenders allowing short sales, because it benefits all parties involved. It allows the borrower to get out from under the property without a foreclosure. It allows the lender to sell the property for market value without taking on the risk of a vacant foreclosed home. It also benefits the surrounding property owners because short sales usually sell for more than a foreclosed property. The biggest problems right now that we see with Richmond Va Short Sales is that it can take quite a long time to get approval. I would think if that if the banks really put some effort into this, they could reduce the approval time and allow for short sales to go much faster.

If you have any questions about Richmond Va Short Sales please email or call us. Our Sales Team has a dedicated Short Sale Negotiator who has a successful track record working with lenders and banks. If you are thinking about doing a Short Sale, contact us and we can set up a time for FREE one-on-one consulting appointment where we anwser all of your Richmond Va Short Sale questions.

Call Carter Snipes at 804-482-4200 or send an email to Carter@SnipesProperties.com