Commercial Short Sales

The commercial short sale market is dramatically different than the residential short sale market. The commercial market is just starting to have negative issues, about a year after the residential market started to slide. What was normal a year ago in the residential market - banks not willing to negotiate short sales and being quick to foreclose - is the way commercial banks are acting now. They have yet to "get it" and will learn the hard way. I am dealing with a short sale in a commercial warehouse condo right now and the banks involved (a major bank and the Small Business Administration as a second lender) are not willing to consider a short sale until the borrower defaults for a few months. Foolish attitude. The residential lenders realized that this did not make sense about 6 months ago and the transactions started to flow. The commercial lenders will have to go through this learning curve too - hopefully not as long - we shall see...