Buying a Wellington FL Short Sale: Short Sale Negotiations

By
Real Estate Agent with Hansen Real Estate Group Inc.
Buying a Wellington FL Short Sale: Short Sale Negotiations

Buying a Wellington Short Sale can be a very daunting and confusing process, especially if you are not working with an experienced Wellington Short Sale Agent who can guide you through the process.  This is the second in a series of post, which will serve to educate Wellington home buyers about the often misunderstood process called a short sale:


Buying a Wellington FL Short Sale Part 2
Buying a Wellington Short Sale: Short Sale Negotiations

Besides knowing
 what a Wellington Short Sale is it is also important for a buyer to understand who they will be negotiating with when they submit an offer on a Wellington short sale.  

The Residential Contract for Sale and Purchase is between the buyer and seller, who is still the owner of record, NOT the short sale bank.  While the short sale bank ultimately needs to approve the short sale in order for the home to be sold, they are not a party to the actual contract.

So when a buyer submits an offer on a Wellington short sale they will be negotiating with the seller, who can accept, counter or reject any offers they receive
.  Once the short sale seller comes to terms with ONE buyer they will then submit the executed contract to their lender(s) for final approval.

If you are interested in purchasing a Wellington short sale and need an experienced short sale agent contact me today!


Part 1:  What is a Short Sale?

Originally posted at
http://wellingtonhometeam.com/buying-a-wellington-short-sale-short-sale-negotiations/

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Topic:
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Location:
Florida Palm Beach County Wellington
Groups:
Palm Beach County Homes for sale- South Florida Real Estate for Sale
Wellington Homes for sale- South Florida Real Estate for Sale
Palm Beach County Pros
Palm Beach Florida
Tags:
wellington short sales
buying a wellington short sale

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Ambassador
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Rich Cederberg
eXp Realty - Albuquerque, NM
eXp Realty Agent Albuquerque

I am guessing a lot of buyers don't realize this.  Great post to point out the parties to the transaction.

Feb 21, 2012 09:09 AM #1
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Melissa Zavala
Broadpoint Properties - Escondido, CA
Broker, Escondido Real Estate, San Diego County

I think it is great how you are providing all the info in a simple to read format.

Feb 21, 2012 11:30 AM #2
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Jeff Dowler, CRS
Solutions Real Estate - Carlsbad, CA
The Southern California Relocation Dude

Making it all simple to understand in key, Michelle. You've accomplished that so well! I suspect many, despite how long these transactions have been around, do not get how they work. Or don't.

Jeff

Feb 21, 2012 12:33 PM #3
Rainer
241,927
Justin Dibbs
Pearson Smith Realty - Ashburn, VA
REALTOR® - Ashburn Virginia Homes for Sale

A lot of buyers don't understand the short sale process and desperatly need am agent like you that can easily explain it to them.

Feb 22, 2012 09:27 AM #4
Rainmaker
1,333,948
Michelle Gibson
Hansen Real Estate Group Inc. - Wellington, FL
REALTOR

Rich - I don't think a lot of them do

Melissa - Thank you!

Jeff - Yes it is, I always try to simplify short sales information for my buyer clients

Justin - No they do not

Feb 22, 2012 10:07 AM #5
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Renée Donohue~Home Photography
Savvy Home Pix - Allegan, MI
Western Michigan Real Estate Photographer

It is imperative for a)  Wellington short sale buyers to hire a buyer's agent such as your self Michelle!  AND b)  to listen to that agent!  Short sales are such an odd transaction that sometimes it doesn't make steps.  Hiring an agent that is up to par with what a short sale transaction entails is the difference between success and failure when purchasing.

Feb 26, 2012 09:17 AM #6
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Rainmaker
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Michelle Gibson

REALTOR
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