I've got one of those rare short sale listings that appears to go on forever. It seems like I've always got one of those in my inventory, but that's because I never give up on my clients. Some of them require more work than others, and that just comes with the territory.
This particular Sacramento short sale has endured problems because of the condition of the property. It needs work. Plus, the back yard is a bit of a mess, it's all concrete. No grass. I want to say: People, stop turning your back yard into a parking lot. A back yard is supposed to have a lawn.
Still, the buyer who made an offer on this short sale is getting a tremendous bargain. We got short sale approval last week from the bank.
Trying to buy a home in Sacramento is not an easy feat these days. It can be compounded if you're trying to buy a Sacramento home and represent yourself. Because the approval we received from the bank did not allow the seller to pay a commission to the buyer, as the buyer holds a real estate license and noted that license as the buyer's agent in the contract.
I struggled with this because a change in the contract terms meant we needed to sign an addendum. However, the buyer's agent is not a party to the contract, even if the buyer's agent is also the buyer. Fortunately, we have ZIP forms and a Cooperating Broker Compensation Agreement. I used the CBC and amended the MLS commission to none.