I've had repeated questions from buyers agents and title companies concerning expediting the short sale process because there is a cash buyer. The Short Sale lender doesn't care if you have cash buyer! Most lenders, and "there are always exceptions" are so swamped with short sale files, they are using what I call the "Putting out the hottest fire" method of prioitization. Files with the closest sale dates are being dealt with first and the rest in decending order.

When someone trys to get the lender to break their protocol because you have a buyer with cash, or your seller is going to file bankruptcy, they don't even flinch. Unless you have the ability to reach a very high placed policy maker or decision maker within the lending institution your dealing with, you will be met with the standard answer.....we will get to your file as soon as we can. A lot of lenders are now giving their processors 30 days to respond before they will even allow you to ask for an update.

It's a frustrating process but I see things getting better each day. These defaulted loans cost everyone when a short sale falls apart due to a buyer that just walked. Lenders are scrambling to streamline their systems to limit the lost deals.

Best thing to do is to make sure your buyer is preparred to wait 60 days to get their offer accepted. Respect the lenders system in place that day and be courtious and prompt with your follow up calls. Make sure your follow up conversations are noted correctly in their system. Get them to read back to you what was noted. If the timeline has lapsed and you still can't speak to someone about your file, escalate it to their supervisor.

Short sales are challenging and getting upset won't help. Learn what their rule for the week is and manuver through it professionally.

To your explosive success!

Wayne