Attention Agents "Short Sale" Is Not A Marketing Term. Seems lately that every listing I look at says Short Sale or Short Sale Approved or better yet Possible Short Sale and yet when I do a little homework I see the agent has listed it above recorded loan amount and the only way it would go into a "short sale" sale status is if agent fees were paid out. Ok technically this would be a short sale if the lender paid the agent fees instead of the seller would contract the listing agent to sell the house for a fee. Put the bigger point is the listing agent has possible harmed the Seller by no full explaining the short sale process and the impact and options. If the value in the market is less then what is owed then price it based on the value and then you have a true short sale situation but to list it at loan about which could be 10-20 30% over market value only leaves the seller sitting asking why no one is showing the property we did out "possible short sale" in the MLS. Example you go into a dress/suite shop do you A) look at the fabric content 1st B) the price tag C) The Sales person to try and figure out how much off they will give you.
Listing the property over priced and adding "Possible Short Sale "would be like expecting all buyers to pick option C it does not happen.
Sellers facing a possible Short Sale need to work with an experienced agent that know the process from A-Z
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