Jul 5, 2013

Tip 22-2013: Short Sales are a Team Effort

Although every Short Sale is an individual transaction with a variety of circumstances, we have come to recognize a common feature among all of our Short Sale files: they are truly a team effort. In a traditional sale, the listing agent and the seller are on one side of the table negotiating with the selling agent and the buyer on the other side of the table. 

On the other hand, a Short Sale is a unique real estate transaction in which every party sits on the same side of the table. The seller, listing agent, buyer, selling agent, short sale negotiator, and even the settlement agents, are all seated next to each other staring across at one entity: the Short Sale lender. As a result, all parties are working together to negotiate with the Short Sale lender to achieve a successful Short Sale. 

Everyone involved needs to understand the difficulties involved and that there may be various delays. With a little patience and the continued understanding of all involved as a TEAM EFFORT, the Short Sale will ultimately be successful.

P.S. Our track record over the last two years is approximately a 90% success rate once we have a Short Sale contract to negotiate.  

Contact me at 434-951-0858 or Tucker@TGBLaw.com if you have questions.                 

William D. Tucker, III   
Charlottesville, VA 434-973-7474 | Lake Monticello (Palmyra, VA) 434-589-3636       

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