According to RealtyTrac, banks are speeding up short sales after settling the robo-signing debacle. Short sales increased 25 percent in the first quarter of 2012 with average discount of 21 percent.
“We’re seeing a shift in the market. I closed 10 short sales last year. This year, I’m on track to do 100 short sales,” Ben Hirsh, broker/owner of Hirsh Real Estate Specialists in Atlanta, told RealtyTrac.
When dealing with short sales, some banks are better to deal with than others. RealtyTrac has ranked the top seven major banks based on a combination of three factors: year-over-year increase in pre-foreclosure sales for the first quarter; biggest discount on pre-foreclosure sales; and the average number of days to sell a short sale.
Below are the seven best banks based on the three ranking factors: