A Good Interview Leads To A Successful Short Sale

Interview the sellers even with a potential short sale but with a few extra questions. Get a feel for whether the homeowners are angry or bitter. These people often trash the home before they leave the property. They sometimes have problems toward the end of the sale and refuse to sign the final approval letters leading to a failed short sale. Also, ask if they are considering a bankruptcy, have they met with a bankruptcy attorney and been advised to file. Again, at the end of the sale when things get down to signing off on the sale they walk-the bankruptcy is in their back pocket and looks more appealing to them. They are well within their right of filing for bankruptcy but you should do a really in depth interview so that you don't get stuck in the end.