prequalifying your client: I'm Representing the Buyer in this Transaction...and Now I Have to Pre-Qualify the Seller, Too? - 02/08/10 01:25 AM
Here's a hypothetical for you:
You are representing the buyer in a transaction. The listing sheet clearly states, "Not a short sale," but you notice, while doing your due diligence and researching the property in the MLS, tax records, county courthouse records, etc. that the list price is significantly less than NOT ONLY what the seller paid for the home but also less than the amount of their loan. You ask the listing agent, "This definitely isn't a short sale?" He says, "No."
You write the offer, and following negotiations, your client (the Buyer) reaches an agreement with the Seller - … (10 comments)