Timelines

You can probably tell that some of these buyer's agents are getting on my nerves today.  

First, they don't understand that the lender is not a party to the contract and that the seller is the party who accepts or ratifies the contract.  I have to explain this over and over again.

Secondly, many agents will give only a month or so for lender approval.  Are you kidding me???? I always kick these back and tell them that if they can't wait a minimum of 90 days, then they should look somewhere else.

Wouldn't it be nice if buyer's agents were required to understand short sales before writing offers on them?

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Permalink Reply by Jeff Payne on October 11, 2011 at 1:38am

Deb, I use a buyer/buyers agent disclosure that the buyer signs, explaining that short sales can take some time and that they should know that it will take at least 90 days.  At least this way I know that the buyer had to read it and sign it.

Permalink Reply by Deb Orth on October 11, 2011 at 1:50am

I do as well, Jeff.  Just doesn't seem to make any difference to these agents who want to argue with me about it.  GRRRRR...

Permalink Reply by Jeff Payne on October 11, 2011 at 1:57am

It is frustrating for sure!

Permalink Reply by Kimberley Kelly on October 11, 2011 at 3:00am

I grill my Buyers Agents and they STILL don't get it.  If your Buyer is in ANY kind of hurry..walk on by that Short Sale!

Permalink Reply by Richard on October 11, 2011 at 9:57am

Deb,

 

That should be a requirement!!!  I'd go even one step further and say, if you haven't sold or bought a short sale in the last 12 months then you should be required to take a refresher course to actively pursue the next one.  This weeds out the agents that purposely avoid short sales until they don't have any other choice but to take on one to supplement their salary.

 

Kimberly, sometimes I think they don't want to get it.  You're correct Jeff.........assure yourself they've had an opportunity to view it.  Having worked with 3 agents recently, I've asked myself countless times, why can't the entire profession embrace this transaction?  Until something else better comes along or all until the economy gets turned around, it's not going away.

 

Kind of sounds like a bad headache.....

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