The National Association of Exclusive Buyer Agents (NAEBA), the organization of real estate professionals who advocate for buyers, has found that many home buyers are not adequately prepared to buy short sale homes. To help educate home buyers of the many pitfalls involved with short sale transactions the group is publishing a free report titled "Short Sales Are a Long Shot For America's Home Buyers! 51 Critical Things Buyers Need to Understand About Short Sales."
According to 2012 NAEBA president Ulrich Salzgeber, "Some industry experts predict short sales will increase 25% in 2012 compared to 2011. But short sales are often the most frustrating type of transaction for purchasers to be involved in. Every day our members get asked basic questions about short sales and there really hasn't been much good information available for buyers to read on their own. This report is our effort to help buyers around the country understand and work through the difficulties involved in short sales."
The report includes explanations of who all the parties are in a short sale and what typical chances of success are, along with helpful recommendations to include in purchase contracts.
"Regular real estate agents seem to want to promote short sales to buyers as an easy way to buy a property at under market value. That certainly works sometimes, but the majority of the short sale transactions present a very different reality to buyers. As exclusive buyer agents our role is to help buyers objectively evaluate short sales and manage the risk in their real estate purchase," Salzgeber said.
Exclusive Buyer Agency is the practice of representing only buyers and never sellers in a transaction. The company never lists a seller's property and thus never has a seller as a client.
The report on "Short Sales Are a Long Shot For America's Home Buyers! 51 Critical Things Buyers Need to Understand About Short Sales" is available as a free download at the association's website: http://www.exclusivebuyeragentsblog.com/?p=318.
NAEBA is an organization of companies dedicated to representing only buyers of real estate. NAEBA member brokerages do not list homes for sale and never represent sellers. This restriction to one side of the real estate transaction avoids conflicts and ensures that the interest of the home buyer is protected at all times from house-hunting and negotiation, to inspection, financing and closing.
NAEBA is pioneering a nationwide effort to give today's home-buying consumers the level of service they deserve and are increasingly demanding.
NAEBA members firmly believe that home buyers have the same full and equal representation rights as sellers in any real estate transaction. NAEBA, in existence since 1995, is comprised of Exclusive Buyer Agencies in most areas of the United States, and in some international markets.