We have an offer on a gorgeous short sale home that we just got last week...it was accepted by the sellers and promptly submitted to the lenders by our coordinator. The selling agent just called this morning at 7:30 to proudly announce that the buyers had just sold their home. How nice...not that it matters since the offer was of course, not contingent on the sale of their home...
Soooo...the agent continued....now my buyers would like to move the closing up considerably....that won't be a problem will it ?
Of course not...we will get right on the phone to the loss mitigation departments of the lenders and let them know that your buyers are ready to rock...that will certainly make it to the top of their radar screens...and they are likely to blow away their whole calendar...because that is what will work best for your buyers. I sure hope you told the buyers that this is no problem and then get prepared to have a healthy meal of "eat your words."
If you are working with an agent that represents you as a buyer for a short sale listing, if they don't understand the process and have never listed or sold one before...either do your own homework or if a short sale is first and foremost what you want...shop with an agent who "gets it"...knows it...has bothered to learn it. It will save you a lot of sleepless nights and broken promises.
Thank you so much for this and hopefully the buyers agents that are new to the process will read this. Dealing with agents who do not know , understand or care about the process can be as frustraing as dealing with lenders
Thank you Vanessa...you expect it from lenders....there is no excuse for Realtors !
Sally
They want to move up the closing sooner , is that a problem?LOL
That's why you do what you do very well!
Sincerely
Tom Braatz
Thanks Tom...I wanted to say..."and you know where they want ice cubes...."
Princess
Sally & David,
I feel your pain!!! Buyers and distressed Sellers really need to interview Realtor's in this day and age. Truth is alot of Realtors don't have the skills needed in this market. I recommend the Certified Distressed Property Expert designation to every Realtor, especially those with the attitude, "That I've been in the business a long time."
Hi Gary...we ARE CDPE...and we agree....know what you don't know...but of course, they ALWAYS KNOW IT ALL..
Sally and David...good post for Buyers who are eager but misrepresented!!! On a separate note..did the negotiator put your file ahead of everyone elses?? If so, wanted to know what MAGIC you were able to work!!
We are magic...in part due to our CDPE certification...our short sale coordinator who stays on top of files....and in this particular case....some wonderful lenders that have recognized our organization and have come to know us !
Every agent who represents a buyer wanting to purchase a short sale home should spend at least several hours on the Internet researching the latest info. on short sales. If not, they are doing their buyers a huge disservice and don't deserve the business.
Just re-read my comment and yes, it does sound harsh but I still mean it!
Thank you Kelsey...true story...know what you don't know...and if you don't know...ask!
You Want It When? ROFLMAO!!
Time is always of THEIR essence....
I think it should be a NAR requirement to take a short sale course. There's no way you can sell real estate and never have to sell a short sale. The buyers in your post are going to find themselves in a sticky situation when their house closes and does not have a house to go to.
Interesting thought Pam...know that Short Sales are not as prevalent here or in some other parts of the country as they are in Florida....AND I understand why not every agent wants to list them...NAR doesn't even have a recognized short sale designation...We have taken the CDPE course which was outstanding....what NAR and every other local,, state "required association" should do is punish unethical agents who buy listings and help create short sales !