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Short Sale Advise Comes Up Short

Real Estate Sales Representative with Deeb Realty


The above link is to an article in Realtor magazine March 2010. It states that realtors are not supposed to present offer to the lander in a shortsale or communicate with them after an offer is recieved. Oh how I wish this were true. In Nebraska a large part of my job in a shortsale is to get the offer to the lender and keep the process moving so my client can avoid foreclosre. The article states that the "closer" should contact the lender. I do not know a title company closer in Nebraska who would do this.

I sent the following email to the author iof the above article:

Hi Stacey

Your article on shortsales (March 2010) is appreciated. I do however disagree with your statement that realtors turn over communication with the lender to the closer once an offer is made. In Nebraska there is not a closer that I know who will call and speak to a lender. Each call can take up to an hour on hold and in transfers. They do not have the time to do this. As a realtor I do not become liable for giving the lender an offer and helping to get them the documentation needed. Lenders either accept, counter or refuse to reply. I have clients sign a paper that states they need to consult with their attorney and CPA to make sure they understand what the shortsale means to them in the future. I am simply trying to help them avoid foreclosure. My job is to present offers to the lender and help the process along.



Any thoughts out there?

Have a great week


William True
True Sarasota Real Estate - Sarasota, FL
Sarasota Real Estate

Maybe it varies from state to state but I don't see why it would???

Mar 01, 2010 01:00 AM