Is there any negative stipulation about short sale one of your relative's property as a listing agent?
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Trong,
This is a bit of a gray area. We have seen deals go through like this, but it's important that you just properly disclosure your relationship to the bank.
You could do what Ron said or you could just disclose it to the bank and many times they will allow it.The lender will decide if it is ok or not for you to proceed. It may be worth a shot as we have seen it done numerous times and it will avoid you from having to not list the property yourself or give up any commissions.
Just to update, I did asked the bank about if I were able to proceed and they said that I will be able to, but I won't be getting any commission, therefore, I am planning to refer the listing to another broker to take of for me.
I know that Freddie Mac doesn't allow a relative to list a HAFA Short Sale. It specifically states in the Agreement Notice that the borrower can not list the property with a relative. Also, the buyer's agent can not be a relative. I had to refer the listing to another agent.
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