Someone asked me this question and I'm not sure I know the answer: If a broker needs to short sale his/her property, can they be represented by an agent from their brokerage, with regards to the arms length affidavit? I'm assuming all relationships will be disclosed. What are your thoughts or experiences? Thanks.
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How it should work is... process the short sale through the financial instution to get short sale approval. This can be anyone on the third party authorization. It's when it comes time to sell the property and getting the buyer is where arms length comes in to play. The buyer is at arms length. Short sale is a two step process, 1) SS processing 2) Listing. In that order. That said, to answer your question, they can be represented by an agent from their brokerage.
Ray@ourk1.com
loss/mitigation facilitator
www.ourk1.com
This should be okay in my opinion. If they were buying the property, I'd be more concerned about that. Of course like you mentioned disclose and just double check with the servicer. I'd be surprised if it wasn't okay.
Brett@ishortsalenow.com
310-564-6389
www.ishortsalenow.com