Fewer than three of five short sales close in California

Fewer than three of five short sales close in California

C.A.R. released the results of a statewide survey on short sales and the challenges REALTORS® face in working with lenders and servicers.

The most frequent problems REALTORS® cited in working with lenders and servicers during the short sale process include unresponsiveness, onerous procedures, and long processing delays. The survey also found that fewer than three of five short sales close in California, illustrating the complexity and difficulty of navigating lenders’ and servicers’ short sale procedures.

“The lack of standardization, long approval process, and lack of lender approvals are hampering what should be a 45-day short sale process,” said C.A.R. President Beth L. Peerce. “Instead we’re hearing the typical response time for lenders is at least 60 days, and in many instances, their response time exceeds 6 months.”

Autumn and Cassidy have closed 13 short sales are are negotiating 3 as of today. We have 100% success rate on all our Short Sales, so if your in need of our help or know someone who is looking to short sale then give us a call.