Not agreeing to wait 90 days
for short sale approval ~ The buyer we will be looking for is going to be committed to the property.
An offer should be collected from someone who has a strong desire for the property and is willing to wait the time it
takes for short sale approval.
Given the lengthy
time for a short sale approval, a seller should be looking to lock up the best qualified buyer that has the greatest chance in getting to the closing table.
When agents complain today about short sales taking so long we remember the days of over a
year for short sale approvals and that is without buyers walking!
Your agent should determine for you how many banks and liens are involved in order for you to adequately prepare for the
wait for short sale approval.
An offer should be collected from someone who has a strong desire for the property and is willing to wait the time it
takes for short sale approval.
It may take several attempts to contact your mortgage lender before getting approval for a short sale
Unless the short sale you plan to buy is a Wachovia short sale or a preapproved HAFA short sale, you can pretty much count on waiting a
while for short sale approval.
The last thing they can afford is an uneducated buyer thinking it is fine to bail on them after a month because they are tired of
waiting for a short sale approval to be issued.
So far, knock on wood, I have a 100 % success rate
for short sale approval!
As of this writing in four years, knock on wood, I have a 100 % success rate
for short sale approval!
I would also suggest some kind of clause that locks the buyer in for some amount of time to wait
for short sale approval.
When I am representing a seller in a short sale it is a REQUIREMENT that the buyers waits for at least 90 days
for short sale approval.
As of this writing in four years, knock on wood, I have a 100 % success rate
for short sale approval!
My short sales on average take about 90 days
for short sale approval.
Make sure the buyer will remain committed to waiting
for your short sale approval.
A month is not a long time at all to be waiting
for a short sale approval.
These types of buyers do not want to wait
for short sale approval.
All of these conditions affect the wait
for short sale approval and add overlays to your short sale.
Not only does an agent need to know how to process a short sale, head off potential problems before they pop up and negotiate with your bank, but a short sale agent must know how to keep a buyer interested in waiting
for short sale approval and how to best market your home to the available pool of buyers.
The last thing they can afford is an uneducated buyer thinking it is fine to bail on them after a month because they are tired of waiting
for a short sale approval to be issued.
I would also suggest some kind of clause that locks the buyer in for some amount of time to wait
for short sale approval.
When I am representing a seller in a short sale it is a REQUIREMENT that the buyers waits for at least 90 days
for short sale approval.
So far, knock on wood, I have a 100 % success rate
for short sale approval!