Just sitting around the office this morning and was singing the "short sale blues" to a fellow broker when a thought occured to me, why not ask all you out there, have you had this happen to you,( silly question, but still want to know )?
You are representing the listing side on a short sale, have negotiated an acceptable price from the lein holder(s), and have obtained permission from your seller to communicate this to buyers agents. you tell the buyers agent that there is an acceptable number the bank will take. the offer comes in lower than the bank will accept. soooooo, you and your seller draw up a counter at the acceptable number, notify the buyers agent of this, only to receive a rejection. The real question I think I want to know here, is, why even submit an offer for your buyers if you know it is going to be countered at least to the acceptable number, or rejected? wouldn't it save time and ultimately get the buyer into something they really can afford sooner and with less frustration on all sides if some pre-offer education on the mechanics took place for the buyer? just a thought.
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