Why Short Sales Are Different
A normal listing agreement and purchase contract are only part of the process. The seller's financial situation, loan status, liens, lender requirements, valuation and approval terms can all affect whether the transaction can close.
Typical Real Estate Workflow
- Assess value, liens and estimated proceeds
- Determine whether a short sale appears necessary
- Obtain homeowner authorization
- Assemble the lender-required package
- Market the property and submit an offer
- Manage valuations, counters and approvals
- Coordinate title and closing conditions