When searching for Panama City short sale properties, there is one outstanding rule that all potential buyers must adhere to: Patience!

When lenders agree to allow a homeowner to sell a home under their short sale policy, there is a lengthy process that must be followed.  Each lender requires their own unique package to be completed by the selling agent.

If the package is not completed properly, the short sale may be delayed significantly.

Even when the packages are completed, selling a short sale takes time for several reasons:

There are several lender departments involved in each short sale.  Speaking with one, does not guarantee they are sharing the information with the other departments.

Contracts submitted for purchase must be approved.  Many times this approval process could take weeks or even months.

With the current state of the economy, many lenders are back logged with short sales and foreclosures.  This tends to lead to delays in processing and or accepting purchase contracts.

Remember, educating yourself on the short sale process will bring the best dividends.

Short sales take longer to get approve, but they are unavoidable during these economic times.

Be patient and work with your agent closely.

Contact us directly (850) 774-6582 if you are searching for Panama City short sales.  We are here to help.