Bufford Warren

Having to dispose of these properties at auction and for less money is deserved by the lenders. When an offer is sent to a lender it takes way to much time to recieve an answer. I have one that we are now closing after three and one half months and the offer was at current appraised value. Another one was cancelled after waiting 6 weeks and still not haveing an answer. On another the bank would not accept CDs as the buyer having the cash to close, the buyer had to cash the CDs and deposit them into their checking account before they would accept the offer. These are just a few examples the problems faced by Realtors and their buyers. I know of Realtors that will not even write an offer on a short sale because of not being able to get the lien holder to respond. The lenders need to put in place a set of guide lines that will give their employees the authority to negotiate these transactions in a timley manner, then they would not have to resort to taking less value at auction. Bufford Warren Broker Metro West Realty Phoenix, AZ t