Tips for Short Sale Buyers – Point of contact.

Know who is negotiating with the bank on the Seller’s behalf.  It could be the Seller, their agent or an attorney hired by the Seller to handle it.  The short sale success rate varies dramatically depending on which is handling it.  Some Sellers want to do it themselves to save money – bad decision.  Few Sellers have the knowledge of time to do it.  Some Realtors agree to do it, but have no idea how much time and effort goes into it, so they don’t do a good job.  The same can hold true for some lawyers.  Make sure that the point of contact is experienced.  Otherwise you may want to offer on a different house.  Also make sure the person communicating with the bank has your contact info and has committed to update you at least once per week.  Ask before you offer.

 

 

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