Do You Have The Time?

There is a lot of interest from buyers for foreclosures homes or "short sale" homes.

One of the biggest obstacles in buying one of these homes, is the amount of time it takes for a reply from the bank.

Typically, we present a written contract offer along with your pre-approval letter ... and then we wait.

The banks are not held to a deadline for a response time. Even if we wanted to write into the contract that a response must be received within a certain time frame, the banks are not controlled by that. We must be patient and accept that buying a short sale home is a process, that will not be rushed just because we would like it to be.

If we want to withdraw our offer and pursue other homes, we are free to do that if the bank has not accepted our written offer.

The ideal buyer for a foreclosure or short sale home is an investor or a buyer that has a month-to-month lease or some type of flexible living arrangements.

As your buyer's agent, I follow up on the status of the offer on a continual basis. But I want you to know upfront that time and patience are two important factors in this particular buying process.

Jim Starwalt

Thinking of making a move? Log onto my website at www.StarHomeFinders.com and search the Multiple Listing Service from over 150,000 homes for sale. Registering is quick and easy!

Jim Starwalt, Broker Associate RE/MAX Center, Phone: 847-548-2625 Jim@StarHomeFinders.com