Buyers Losing Interest in Short Sales Due to Processing Times

Short Sale Processing TimesAccording to research by Campbell Surveys, first-time homebuyers are losing interest in short sale listings due to the amount of time it takes to get them closed.

Purchases of short sales by first-time buyers dropped to 39.7% in August according to the HousingPulse Tracking Survey, making it the lowest level ever recorded by the survey.

Approval times for short sales can range from a couple of months to over a year in some cases. Factors contributing to delays in short sale transactions include lost paperwork, coordination of with investors, appraisal issues, under staffing, and lack of short sale knowledge by real estate agents and professionals.

Homeowners Servicing Company specializes in short sale transaction coordination. It’s our job to ensure that short sale processing occurs quickly and without error. The agents at HSC have tremendous knowledge and experience working with lenders, banks, investors, Realtors, home buyers, and sellers facing. foreclosure.

Contact HSC today and find out how we can help you with your short sale needs

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