Tip #1o. The Foreclosure System is Currently Overworked
With the onslaught of foreclosed properties in housing markets around the county, Real Estate Professionals are experiencing problems they’ve never seen before. The increased volume and never ending seller demands has stretched listing agents beyond their capabilities. As a consequence, phone calls are not returned on a timely basis, the multiple listing service is not updated regularly and often times the information is wrong. The foreclosure departments at the banks are overloaded as well and their response to offers can be slow.
This process can be very frustrating to a Buyer, and it may seem as though your Agent isn’t working for you, but they are just as frustrated. Patience is a virtue when purchasing a foreclosure.