There are days that I feel like Rodney Dangerfield. Well, not DEAD in the sense that Dangerfield is not around anymore. More along the lines of working my little tail off, only to discover that Sacramento short sale agents don't get no respect. We close transactions just like everybody else. But because we sell short sales, some people treat us like we're lepers.
You know what? I don't care. I'm not looking for respect. I respect myself plenty, thank you very much. My cats love me, and my husband is a saint. But don't come to me with an offer that's not an offer.
One of my short sale sellers signed an offer yesterday. It was beautifully written. Not an error on it, which is pretty rare. The buyer offered to pay a little over list price, the earnest money deposit was fat, and the buyer agreed to wait until April 30th for short sale approval -- all excellent signs of a committed buyer. However, before I delivered the contract, the buyer's agent called to ask if the deposit would be returned if the buyer canceled prior to short sale approval. Huge red flag.
When I explained to the buyer's agent that the buyer needs to be dedicated to the short sale process, the agent said the buyer had expressed reservations. Well, why did the buyer agree to wait until April 30th if the buyer has no intention of waiting? Perhaps that buyer doesn't want to buy this home? Perhaps that buyer should not try to buy a short sale? Maybe we should cancel the contract?
In one of my pending short sale transactions, the buyer's agent sent me an addendum asking the seller to repair a broken appliance. The seller lives 100 miles away. The home is sold "as is," meaning the buyer is purchasing this property in its present condition, warts and all. If there is a seller contribution in this escrow, the bank will want that money. Does the buyer want to cancel over the appliance?
I was speaking with another short sale agent yesterday who said she has learned a lot from her association with me. She is now not afraid to ask a buyer if the buyer wants to cancel, although in the past it was a frightening thing to ask. However, she has learned that it's actually an excellent question. Does this agent get respect? She doesn't know and doesn't care, either. We're both in this business to get the job done.