I have written a lot about the short sale process especially from the buyer perspective. Things like the time involved…the patience required…the long wait…. and then out of the blue.... jumping through hoops to close.
The short sale negotiation process between the seller and the lender who will be approving any sale may involve a lot of back and forth negotiations before reaching the final approval.
As the seller in a short sale transaction you want your real estate agent to stay in touch with the buyer's agent so everyone is reassured that progress is indeed happening. I think it is the unknown that causes buyers to lose their patience and walk away from a short sale.
As a buyer it is imperative your real estate agent stay in the loop and keep you can be informed of the progress to
minimize the surprise when an approval does comes along.
Managing expectations of the buyer and seller is key to a successful short sale transaction.
For information on short sales in Melbourne, Vera, Rockledge and Merritt Island, Florida call me at 321-693-3850 or email me.