While Short Sales were virtually unheard of only a few years ago, now the majority of banks and lenders are negotiating and closing these deals. They allow a homeowner with a legitimate hardship to sell their property for less than the balance of their mortgages and avoid foreclosure.
The issue is that the banks want the right type of deal with exactly the right paperwork and most agents are completely unaware of what the banks want.
This is why the majority of short sales are not accepted or take so long to close that buyers lose interest. The Distressed Property Institute gathers information from Certified Distressed Property Experts across the country.
Our certification course teach agents how to submit a package the banks will rush to close.