When a short sale goes well, it’s a beautiful thing for all parties involved. However, when you cast a big net looking for possible transactions, you’re going to catch some old boots as well as the prime tuna. Narrowing down your search parameters can help improve your odds of success, but how do you know what is or isn’t a good predictor of a successful transaction?
Chad Brown, Vice President at Benutech, has access to a variety of types of data (national data requests, aggregated search queries, and even conversations with active realtors), which he has used here to analyze the current state of the short sale market. Here, he presents some of the strongest patterns we found to be correlated with a successful short sale, including types of loans involved, diligent lenders and servicing companies (and their more problematic counterparts), and other trends in the market.
While we all know that each individual short sale is unique, and there’s no magic formula for finding the perfect smooth transaction, we hope that these data will help you efficiently find the best short sales for your business goals.