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Permalink Reply by Lauren O on December 12, 2012 at 4:31pm

Hi Toni.   I just wanted to first say I do not know the answer to your  question, but are you the prospective buyer of a short sale?  If so, I am in the same boat.    Sometimes I feel buyers to do not get adequately represented in short sales.   I hope you get everything worked out.  Good luck! 

 

 

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Permalink Reply by Kelly W. Maynard on December 16, 2012 at 12:43pm

I am pretty sure Toni is the listing agent.

It is difficult being a Buyer in a short sale transaction, but if you have a good agent representing you, it does not have to be a helpless situation.  Your agent should be in constant communication with the listing agent and be sharing with you, and educating you on the process.  The first step for your agent would have been to find out as much about the Seller's situation as possible, such as liens, HOA late payments, bank/servicer, investor, etc, mortgage insurance, if known, and the experience of the Listing agent. A good agent will pre-screen these questions and help you to know which short sale to submit an offer on.  That is half the battle right there.

As the Buyer you don't have to be in the dark.  Find a good agent that has experience helping Buyer's purchase short sales, if they also list short sales and negotiate them their selves, then they have understanding of both sides of the short sale and exactly how it works.  This is the ideal agent to find.

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