Greed of Short Sale Investors
The first question is usually not about the investors’ greed, but about how they are screwing the home buyer. Real estate agents will defend that they have a right to get their client the best deal possible. I like that. That’s what they should do. The issue then becomes what is the best deal they can get on their own, not what is the best deal an investor, who either is, or has, experienced negotiators and integral knowledge of how the short sale process works. So even though an investor provides the acceptable short sale discount in a timely fashion (as most buyers are either relocating or moving out of a previous place of residency and likely have just a couple months of a window to find a new place to live), the buyer should be entitled to this discount.
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