Short Sale Sellers Shouldn't Be Left in the Dark
A few weeks ago I received a call from a gentleman in another state whose home was under contract in a Short Sale. He was beyond stressed as he unloaded his tale of woe on me. His agent had taken all the necessary paperwork, allegedly sent it to the bank, and then....nothing. He hasn't heard from the agent since. And that was MONTHS ago. He wanted to see if there was anything I could do to help him figure out what was up with the progress of his sale.
Of course, I couldn't. The reality is, I can only help home owners in Virginia who are not already working with another licensed real estate agent. All I could do is politely tell this gentleman over and over that I could not help him and that I felt bad for him. As he continued to vent his frustration, what kept coming through was that this home owner felt as though his agent was the only one who could call the bank for information on the Short Sale.
Here's some general information anyone in Northern Virignia should know before entering a Short Sale:
You may have authorized a third party (generally a real estate agent or professional negotiator) to speak to the bank about the account, but you still have the ability to call and find out what is happening with YOUR mortgage account if you need to know something NOW.
Real Estate Agents would find it a good business practice to touch base with their Sellers at least once or twice a week, but if that's not happening, there's nothing to say you can't pick up the phone and call the bank yourself. It is YOUR acccount.
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