"The Buyer Reserves the Right to call this Offer Null and Void."

You hit the nail on the head -- it is important that the seller work with a knowlegeable short sale agent.  When I have a buyer client I work with the seller's agent to come up with a reasonable time period based on the best information available to see if it will work for all parties concerned.

Sally K. & David L. Hanson - the buyer's agent should have knowledge of how short sales work! Putting deadline for lender to respond is not the choice for buyers! You are right - if the buyers wants to buy the home NOW - they can search regular inventory.

Good morning Sally. You are so right, many that do short sales shouldn't they just don't do it well. Some like yourselves make the process that much easier because you know what you are doing. The sellers that list with you, have made the right decision.

I don't know of any of our agents who writes short sale contracts on a regular basis.  

Sounds like wanting to add to a contract with whatever someone wants to add.

Fortunately, we have a standard addendum in our area that allows a buyer to cancel a contract/offer at any time prior to bank acceptance without penalty.

I wished LONG sales had been the label on short sales though. Because the expectations are quick. With layers of players and some Johnny on the spot for customer service but many take a number have a seat. For the coming up short deficiency. You know your stuff and how to make the most of this important part of the real estate market!

I love the unoffer clause. I will keep it in mind if I have a buyer.

I know nothing about short sales, just short people and how they fit on furniture.....

Good morning Sally,

The bottom line is a seller needs to choose an agent who specializes in short sales. In my market area there are very few short sales and I would never attempt to represent a seller on one. Not a good practice..let the expert handle their process!

Too many agents are operating out of their areas of expertise in the short sale sector.

It is no surprise that many prospective purchasers avoid short sale transactions.

Short sale negotiations are a whole new ball game. Buyers definitely should work with a skilled agent or their frustration level will go through the roof.

As always you guys do a great job of thoroughly explaining things..happy Friday

Sally and David I have not seen the UN Offer clause around here, but it is a good idea in my opinion.

Sally & David, I could tell you a whole bunch of time wasting stories behind short sales I have done or tried to do, usually on the buyers end. Foreclosures are a cake walk compared to these Short Sales.

This was a ploy that comes and goes in and out of fashion from some 'so called' short sale expert classes that agents pay (and waste) their good money to attend.  Some of these courses are nothing more than money generators for the people who offer them.