To be a good candidate as a short sale buyer....You absolutely, positively, without a doubt
If you....Ms/Mr. Selling Agent have a sense that your buyer has some urgency....can't make arrangements for temporary housing, can't prolong a lease or close even earlier than anticipated (yes we DO have some short sales that close EARLY ) then do everyone a favor.....the seller, the listing agent, the title company, the lenders - for your buyer....the one or more for the sellers....do EVERYONE a favor and don't even write the offer.
Know this....everyone ELSE who chooses to be involved in a short sale transaction...has bothered to get to know the process, to make the investment to take the training...who is willing to prepare a package AND a closing file...one closing file that would have been 20 some pages is now a Short Sale package with over a hundred and sometimes over 200 pages of documented material...."gets it"....they know there is likely to a bump here or there..that the exact day could be earlier...could be a little bit later....leave your ego at the short sale door...
Short sales are never all about you....Mr./Mrs Buyer - Buyer's Agent....the process involves too many players to be all about any individual....If patience is not your virtue of choice....if you can't change your plans...can't go from hurry up to wait ....do everyone a favor who has hoped so much, who has worked so hard.....don't go there and leave the short sale buying to the buyers who have the flexibility and patience with a purchase and the understanding of the process.....Thank you !
Sally & David - That is right on!
You got in Wendy either write on....and wear your big boy/girl pants...or we would all rather write you off....!
What a terrific post...do you mind if I print it out and send it to someone? I think I'll just send them a link to your blog...you have no idea how very timely this post is! Thank you!
..spread the word....educate....teach...help everyone learn...thank you !
Great post! Recently the buyer of one of our short sale listings bailed - after 30 days into the process. The other agent hd his hands full. The next day we got the lender approval. Buyer wouldn't come back. Too bad - we're selling it to somebody else. Great house at a great price. I don't think that original buyer will be happy in any transaction, but she isn't ours to worry about. I wish I had your post to share with the agent at the beginning of the escrow. Thanks for the mindset.
Thanks Jim...save it for next time...if you do enough of these puppies...I am sure there will be one...!
Sally and David. Oh, so true. With all of my Short Sale listings, I make sure that the Buyer is well aware of the time frame, otherwise forget about it.
All the buyers are aware.....and contacted a minimum of once a week....and sometimes their ego, impatience, etc. gets in the way...we do LOTS of them...only one walked...
All the buyers are aware.....and contacted a minimum of once a week....and sometimes their ego, impatience, etc. gets in the way...we do LOTS of them...only one walked...
I think everyone who is self-employed or has employees needs to be flexible. Hmmmm. That's quite a few people, isn't it? I think flexibility is probably the #2 reason for my success, right after marketing.
So true...the folks who"always" take off on________ and never________usually aren't around too long to talk about it much less enjoy the parts of self employment that we find attractive.