Buyer's Agents - Please Read The Short Sale Addendum!
One of my goals working as a short sale agent in Lakeland FL representing sellers is to find the most qualified buyer. A buyer who can stick throughout the whole short sale process. Mid-Florida Multiple Listing Service has this great tool where you can add attachements, such as seller's disclosures, HOA disclosures, lead based paint disclosure and the short sale addendum that I have already filled out with requirements a possible buyer should fulfill. Having a great credit score is of course a big plus... however what good is a great credit score to my sellers when the buyer decides to walk after a homeowner inspection because of a broken window screen while I have a short sale approval letter in my hand ready to close the short sale.
It has become apparent to me that most of the buyer's agent I come in contact with don't even read the short sale addendum. There are occasions, when the buyer's agent calls me after I sent back a fully executed and binding contract telling me that he didn't realize that the clock starts ticking to do the inspections on the short sale in addition to financing and other contingencies after the effective date. Excuse me - it is written in black and white.
In fact when buyer agents calling me about on my Lakeland FL short sales, I remind them to please read and use the short sale addendum in the MLS. It is written in black and white and if they have any questions to please call or email me.
I have worked with a lot of buyers as a buyer's agent on traditional sales and short sales, it is so imperative when representing your buyers making sure they are aware and understand the terms and condition of sales contract and advise to seek legal advice.
IMPORTANT NOTICE: CDV Transatlantic,Inc. is not associated with the government, and our service is not approved by the government or your lender. Even if you accept this offer and use our service, your lender may not agree to change your loan. If you stop paying your mortgage, you could lose your home and damage your credit.
Copyright © 2011 By Petra Norris *Buyer's Agents - Please Read The Short Sale Addendum!*
Petra Norris - REALTOR®, SFR
Managing Broker - CDV TransAtlantic, Inc.
Managing Broker - CDV TransAtlantic, Inc.
(863) 619-6918
Yes, Petra. Though I have not worked on Short Sales, the training has helped me to make sure that at least I can represent the buyer for short sale - and yes, must real all the forms!
Petra, having also done many short sales, the short sale addendum check off points are SOO important for a buyer to know about especially if their agent doesn't know what they are doing...as lakeland fl short sale agents you serve your clients well and buyers should be coming to you for great short sale guidance!
I am just learning about short sales and enjoy reading your posts. Thank you!