1. Sometimes, agents too busy and start farming out their short sales to another third party, and pay them a portion of the commission to be earned.
2. Sometimes those agents, the agent you hired, loses touch with the “negotiation company” they hired to help get your short sale completed.
3. There are also times when a Real Estate agent will price a short sale, strangely lower, in comparison to Fair Market Value.
4. We all know that you must first have an offer in hand, in most cases, before the short sale negotiation is able to get started.
5. However, the banks may come back at a much higher price than what your agent used for the marketing purposes and listing agreement.
6. This will cause buyers a problem, especially if they wrote their offer at their highest qualification amount!
7. Those buyers are going to have to step down from being able to buy this specific short sale unless they have a coffee can full of money buried in their backyard.
If they have the coffee can buried – then there are “seasoning” requirements too 🙂
With short sales – there are some many important things that should be explained to you as a short sale seller or buyer.
That is why our crash course on real estate is so important.
Like we tell those with whom we speak with about attending our Real estate training, “It does not matter if you want to buy now or a year from now – We will prepare you for the journey!”
If you are considering short selling your home. Selling it for less than what you owe, call me so I can cover all the bases with you regarding taking that step!