"Same old, same old" really doesn't work very well when you are representing a Short Sale Buyer. The reason: Your client can get eaten alive by upfront costs, and end up not even getting to purchase the property in question, because the Lender withholds approval or makes the approval price prohibitive.
These are my suggested solutions,:
1. Do not put up any substantial deposit (more than $500) until your Buyer has written Short Sale Approvals in hand,
2. Do not do a home inpsection until your Buyer has written Short Sale Approvals in hand,
3. Do not file a mortgage appication, again, until your Buyer has written Short Sale Approvals in hand.
AND FINALLY
4. Pick a date for the written Short Sale Approvals to be "in hand" and "crater" the transaction on the day after that date.
This approach requires some discipline, and you are going to have to do a great sales performance to convince your customer or client of the wisdom of your ways. Bottom line!!! This is the only way to get involved in a Short Sale, and if your clients go any other way, they are playing Russian Roulette with their money.
All information provided is deemed reliable but is not guaranteed and should be independently verified.
Properties subject to prior sale or rental
http://HomesForSaleInNewPortRichey.com/blog
All entries on this blog, unless noted otherwise, is the copyrighted content (2009-present) of Daniel J. Hunter, REALTOR®, and is believed to be true and factual, but it is not guaranteed or warranted.
All information should be independently verified.
My Facebook Pages:
