Does anyone have experience with short sales on nice homes in NE Ohio?
I am finding that the only times banks are willing to do short sales with me is for really awful houses (my first short sale was for $750 on a $51K loan - the house was that bad).
I can’t seem to make it happen with the nicer homes ($150K ARV). Banks would rather foreclose and sell on the market.
I don’t believe that it is limited to NE Ohio. I have clients in other states that are experiencing the same thing.
I just purchased a nice REO in NE Ohio, so they are there.
Was this a short sale or an REO?
I’m not having trouble finding REO’s – I’m having trouble finding banks that will negotiate with me on a short sale before they become REO’s.