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Do You Have A Short Sale Expectation List?

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Real Estate Agent with RE/Max Associates DE#RA-0003085 PA#RS347136

Do You Have A Short Sale Expectation List?

paper and pen

The deeper the industry gets into the Short Sale arena, the more I see a need for a concise Short Sale expectation list. Something that details the expectations and responsibilities of all involved with your particular transaction including the REALTORS or Agents, the Buyer, the Seller, and the negotiator, if one is utilized. There are so many different business models emerging, along with such a wide range of expertise, that it is more important than ever to know how well prepared everyone is for the road ahead.

I spoke with a REALTOR a few days ago about his short sale listing to gauge his experience in this area, sharing with him that I've been involved with short sales for twelve years. He didn't believe me, responding that short sales haven't been around that long.

Ummm, yes. They sure have been. And they've evolved. Which is all the more reason that I want to know how informed all parties to the transaction are.

Do you use a document that details the process? That outlines the expectations of what each will do and not do? If so, I'd love to see what you're using. 

Show All Comments
Linda Edelwich
William Raveis Real Estate - Glastonbury, CT
Serving Glastonbury & Beyond | 218 New London Trnk

Sounds to me with 12 years - you would have a pretty good document to share :) I dont do short sales often and stopped in to see if you had such a list to share - I would love to see the responses you get here...great topic

Feb 17, 2012 10:24 PM
Monica Hill
RE/Max Associates - Wilmington, DE
the REALTOR to help you discover Delaware

I honestly don't have one, Linda. I have talked the process through with my Buyers and Sellers but not in a document form. I generally rely on whatever short sale documents are required with each lender and explain as I go through them. The negotiator that I now use for my short sales though is so good that when I encounter a listing for which my Buyer wants to make an offer and we're not sure about the negotiation process in place, we're offering to have our negotiator handle the transaction if that meets with the approval of the Seller and the Seller's Realtor. That was what brought the need for this document to light in the first place... getting all parties on board with what they need to do and what they can expect from the others involved. I'll keep you posted with what I discover.

Feb 21, 2012 02:59 AM
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