Buyers and sellers entering into a contract for a home that is subject to a short sale need to be aware that the transaction will require the seller's lender approval. The lender will have the right to approve:
- Purchase price
- Terms of the contract
- HUD statement
In the short sale process the bank or lender must agree to take a payoff from the seller that is less than is owed. This process can take time. Both parties will need to exercise patience and the lender processes the request.
If you are facing a short sale situation it is best to use the services of a full time real estate professional to assist you with the selling of your home. Give me a call at or email me to discuss your specific situation.
Related Florida real estate views:
Appraisal problems add to the frustration
Real estate agents would be wise to pick short sales over long sales.
Negotiating a short sale with the lender
- Greg Staker - 407-304-0255
2 comments:
Just curious, have you done a short sale offer with America's Servicing Company?
Hi Susan, I have around 55 agents and many of them are handling short sales, I will ask if they have worked with American Servicing Company.
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