Approved Short Sale

See a List of Orem Utah Homes SOLD by Team Teasdale Realty in 2011.

This approved short sale was done in 62 Days from start to finish. Ken Bulpitt with Team Teasdale Realty was able to negotiate and close this short sale in an amazing 62 days on this beautiful home.  This would be considered extremely fast in the short sale world. I think less than 5% of the homes for sale in Utah County are listed and sold in around two months. The buyers are going to love this home and the deal they landed. They should be moving into the Orem home today.  Congratulations!

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32% of the Homes: Orem Utah Short Sales

Orem Utah Short Sales are actually in decline. The amount of short sales in Orem was in fact much higher a few years ago.  We had many high end homes that fell into short sale during the economic recession.  These homes have now sold and the amount of short sales has slowed down.  Currently we have 296 homes for sale and 78 of those homes in Orem are short sales. This equates to 32% of the Real Estate Market in Orem.

The challenge for many buyers is being able to recognize the unapproved and approved short sales.  When you hire Paul Teasdale of Team Teasdale Realty he will help you know when to make an offer on a short sale and when you shouldn’t. It is important to get a first position when trying to buy a short sale.

Short Sale Approval in Orem

It might seem counterintuitive for a lender to go along with a short sale. After all, a lender is legally entitled to pursue the full balance of the loan. When a homeowner falls behind on payments, the lender can (and often does) hold the borrower responsible for every penny owed. And yet more and more lenders are willing to consider approving a short sale.

Lenders are painfully aware of just how bad the current foreclosure crisis is. They know the cold reality is that a large number of struggling borrowers will end up losing their homes and often see the advisability in accepting the inevitable and trying to minimize their losses. Yet, some lenders seem to remain in denial. The most difficult bank to work with in Utah County is Bank of America.  We have done short sales with them but their approval process is both lengthy and difficult.

Foreclosure is an expensive and time-consuming process for a lender. By agreeing to a short sale, the lender wraps up this little mess quickly, and perhaps with less of a loss than it would have incurred with a foreclosure.

Orem Utah Short Sales

Many Realtors attempt to move forward on a Short Sale even when the seller has filed for bankruptcy.  A buyer should pass on any homes where a seller has filed for bankruptcy.  The home often gets brought into the bankruptcy making it unbuyable. A buyer will need to wait for it to show up as a bank foreclosure down the road.

If you are considering a Short Sale on Your Orem Home call Paul.  We care about your situation and will use our experience to help you.  We will give solid sound real estate advice.

If you are looking to buy a approved short sale in Orem and would like to hire an excellent Realtor call Paul.  All short sales in Orem are not what they appear.  They are like a used car.  You need to look under the hood and do and inspection on the current true status of the short sale before seeing the home.

List of Approved Short Sales in Orem Utah