short: 5 Things Agents Need to Think About with Short Sales - 07/07/09 11:21 AM
I know I am in the minority here when I say agents should not be negotiating short sales.  (which I have written about ad nauseam) I am fully aware that in some markets, 90% of the housing inventory is a short sale or REO.  Every time I turn around, I see some other "agent expert" hawking their short sale how-to book or "qualifying" designation.  Unfortunately, short sales are part of the real estate business in 2009; however, we are in unchartered waters as agents and I hope that in 10 years, the real estate industry doesn't look back on this and … (86 comments)

short: "I Want to Do a Short Sale" Says the Seller - 10/05/08 05:12 AM
 
Wendy Rulnick makes some great points in this post.  The drawbacks vs. benefits should be explored and analyzed fully before making a decision to pursue a short sale.  I would also add:  what is the average market time in your area?  If it is greater than 90 days and the seller is behind on payments, an inquiry needs to be made to see if the bank will postpone foreclosure proceedings with adequate documentation.  I would also recommend giving the buyer a document explaining the short sale process and ask them to sign it.  Unfortunately, their agent may not give them … (6 comments)