The founder of foreclosure.com, Brad Geisen, has launched a new website to help facilitate short sale transactions. quicksale.com is powered by foreclosure.com, and covers foreclosures and distressed real estate across the US.
The website explains that it works directly with banks, lenders and other financial institutions to move their inventory quickly. It provides a marketing platform for sellers and, once an offer is accepted, negotiates with the lender on the seller’s behalf.
quicksale.com also states that its legal team works “to minimize the negative consequences that are typically associated with a short sale, negotiating away promissory notes, deficiency judgments and IRS consequences for investor owners, among other items”.
Geisen explained the thinking behind his new website to housingwire.com:
“Banks lend money, they’re not in the business of marketing and selling real estate — certainly not on today’s current scale — and their loss mitigation departments are just too overwhelmed at this point.
quicksale.com is a structured tool that provides much-needed support and relief. It short circuits the entire foreclosure process to ensure the best possible outcome for all parties involved.”
The launch of the new website comes after foreclosure.com began working with Fannie Mae to relaunch its homepath.com website in early August. foreclosure.com states it currently lists 1.8 million foreclosure, preforeclosure, bankruptcy, FSBO and tax lien listings across the US.