Does a Wellington Short Sale Seller have a Say?

HI Michelle - the seller actually does have to agree to the terms. This is a great post, and I have had a similar situation with a seller not agreeing to the lien holder's terms.

There are still a lot of misconceptions out there Michelle.  It's up to us to get the truth out.  Good post.

Michelle

The seller can walk away from a short sale and just let it foreclosure.

Good luck and success.

Lou Ludwig

I think short sales should be be called "short sales at the whim of the lender".  There is a third person involved and until everyone agrees there is no deal.

I'm hitting the suggest feature for this, and not just because of your hair, Michelle. Sellers do not know they have the right to approve the terms in the short sale letter. And buyers of these short sales often don't know that the sellers could reject the terms. It's too bad your listing agent wasn't willing to go back and fight with the lender for his sellers. I've had great success in getting those "terms" removed.

Short sales are so sticky with so many variables that it is impossible to tell whether one will go (even with approval) or not!

Well, I guess that if the seller is not happy with the terms you can return to the bank and ask for changes to the letters. I've dne that a few times recently.