I’ve been thinking… could there be an easy fix to the short sale industry mess?
What if sellers were required to have an approval from their lender PRIOR to listing their home for "short sale"?
What if the lender ordered the BPO establishing the sales price that the lender would accept PRIOR to the seller listing the home?
What if the lender issued a letter indicating the sale was approved and that the lender would accept $xxx for the sale PRIOR to listing the home?
What if a real estate agent could not list a home without the short sale approval letter in hand?
What if a buyer knew exactly what a lender would accept for a sales price?
What if buyers and sellers were no longer wasting their time on a short sale that will never close at the price listed in the MLS?
What if real estate agents could go back to actually marketing homes with reasonable response times to move the inventory?
Could it be this simple? Just wonderin.