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About Stephanie Frost
Expertise
I can answer any general questions about the buying and selling process in the state of Florida such as:
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I am a licensed Realtor in the state of Florida. I specialize in residential and equestrian properties.
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Mercer University
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You are here: Experts > Real Estate > Real Estate by Location > Real Estate: Florida > short sale
Expert: Stephanie Frost - 11/3/2009
Question
it been almost 1 year my home been on the market for sale. i got a short sale approval from lender 8 months ago but yet no response from the broker about a buyer.the property have a lot of traffic but no sale. mind you i am stuck and do not know what to do , this is an investment property.
Answer
Susan
You're not alone. Many property owners are in the same boat, and unfortunately there is little to be done about it. Many buyers have goten leary of making offers on short sales due to the long times needed for acceptance or lack thereof. And even if your bank has approved the notion of a short sale, that doesn't mean that it would take any less time to get the job done, once a buyer makes an offer.
But 8 months without a offer would definitely suggest that a price drop is in order. Many brokers who work extensively with short sales schedule automatic price reductions every two weeks until they get an offer. Perhaps that is something to consider.
Good Luck,
Stephanie Frost
www.StephanieSellsOcala.com
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