Short Sales are never the same!


Posted by admin | Posted in Uncategorized | Posted on 20-09-2010

Here is the newest I have run into; I am the listing agent on this property. Buyer’s agent shows the property to the wife, they write an offer. They include the Additional Clause addendum for the absente spouse. They request that he see the home on Sunday.  So far so good. Then the buyer’s agent tells me that the Buyers are in an accepted contract on another short sale, they are waiting on bank approval, and have been waiting for over 2 months.  How much longer will it take to get the approval? Hmmmm, and it isn’t BofA.

The agent tells me the Buyers are not willing to sign the counter offer, because I asked for written cancelation of the other short sale. The agent couldn’t believe that I asked for that.  I can’t believe that they wrote on another home, and told me about the other offer, how I could let my sellers accept and then … have the buyer cancel in 4-5 weeks when their other offer was approved.  My Sellers need the home sold, with a buyer that wants to perform and close on the home.  

I am asking for a non refundable earnest deposit for the first 60 days.  Also has anyone run into Title Company issues?  On my authorization form I have my title company and person, so they can talk to the lender if issues come up, with a short sale they will.  I am not willing to put the Buyer’s Title person on my authorization, personal, and confidential information could be disclosed to the wrong person? I would love some thoughts on this and yes, I was asked to do this!

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Comments (5)

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