Unless a property is marketed as “Short Sale Approved”, no one has no way of knowing whether a short sale offer may be accepted, not the buyers agent, not the listing agent, nor the seller. Simply because a listing is advertised as a short sale doesn’t mean the bank has agreed to consider a short sale offer. It means the listing agent and seller hope it will sell as a short sale and hope the bank will accept the offer. Read the rest of this entry

Although response times on short sale offers vary from lender to lender, it can take two weeks or as long as 90 days to receive an approval. This is why it’s critical that buyers and their representatives understand and accept that time frame before they make an offer. Clearly, in today’s market, there are great deals on short sale properties, you must now be very clear with buyers about how long they may be waiting.  Not all buyers will have that open ended timeframe to wait.

Once the offer is received, it is Read the rest of this entry