Different Short Sale Lenders Act Differently

No two lenders are the same. Some lenders are quick to make a decision. Others take months. Some are easy to deal with. Others are very difficult to deal with.  Be prepared to have different outcomes with different banks. Typically, local banks tend to be more accessible and easier to deal with, but don't count on it. Larger, nationwide banks can be more difficult. Finding the right person to talk to at the bank can be an arduous process. Dealing with extra paperwork and extra delay times for decisions is the norm. Dealing with time differences depending on where the bank representatives are located can also present hurdles. As a home buyer you will not have to deal with any short sale lenders directly, but it is good to know what your agents are dealing with on a daily basis as you wait for a response. Be sure that your exclusive buyer agent determines up front how he/she is going to communicate with the listing agent and the bank representatives. Communication is the key.