Top 5 Reasons Banks Reject Short Sale Offers

Last year, there were more rejected short sales by the banks than accepted short sales.

In fact, the likelihood of short sale rejection was so high that many real estate agents refused to take short sale listings or represent buyers of short sales. Agents figured if the banks weren't willing to be reasonable, then the banks deserved to take the homes in foreclosure. However, two things have happened that has since changed the attitudes of many agents.

First, the number of short sale acceptances began to rise. I'd venture to guess that at least half of the active short sale listings that attract offers eventually result in an acceptance of the short sale by the bank. Second, in some markets, with the increase of short sale and foreclosure inventory, agents have little choice but to work on short sales if they want to stay in the business . . . read more about Rejected Short Sales.

More Articles by Elizabeth Weintraub:

• Short Sales With Two Lenders
  
• How to Find a Short Sale Buyer's Agent
  
• Should You Buy a Short Sale or Wait for Foreclosure?

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