We offer qualified house buyers that pay cash or can submit multiple offers. Servicing Houston Texas, contact us at 1-832-377-0358 begin_of_the_skype_highlighting              1-832-377-0358      end_of_the_skype_highlighting.

Home Short Sale Qualifications

October 31, 2007

in Community Blog

home short sale qualifications

When a Buyer Walks Away – Short Sale Qualifications

The Short Sale Qualifications process is lengthy, and each day that goes by gives a potential buyer an opportunity to back out of the transaction, to look for another property, to have their personal circumstances change affecting their Short Sale Qualifications. When the buyer walks, you may see weeks or months of effort being potentially wasted. If there is a scheduled trustee sale, you are now faced with a difficult situation of finding another buyer before the home is foreclosed that meets Short Sale Qualifications.

The buyer may have walked for any number of reasons, and while you may be upset for the tremendous waste of your time and energy, the best use would be to focus your efforts on finding a backup buyer or even persuading the lenders to allow you more time to market the property. Best Short Sale Qualifications practices that will help to minimize the number of transactions where a buyer walks include:

•        Pre-Qualify your buyers, making sure that they have the patience to wait for the lenders to complete their Short Sale Qualifications approval process, as well as the Short Sale Qualifications to purchase the home. Short Sale Qualifications can take several months of work before an approval letter is granted. While marketing the property, inform potential buyers of the time frame to expect Short Sale Qualifications, and only take offers from buyers who will agree to remain committed to the transaction until the lenders makes their final decision.

•        Continue to market the property, and take other offers in backup position. If multiple offers are received, submit the superior offer, and ask those that remain if they would like to keep their contract in backup position. In the beginning of this section, we covered the many reasons why a buyer may elect to cancel the transaction, and this action opens the door for a backup buyer to be reviewed by the lienholders. Even if an offer is currently being reviewed, you may still continue to market the property and accept Short Sale Qualifications offers.

Short Sale Qualifications Means To Communicate

Communicate regularly with your Buyers.  One of the main reasons buyers walk away is that they are not kept informed of the progress of a short sale transaction, and make the assumption that the process is going nowhere, and seeks to purchase another property.  We utilize an online project management system where all of the milestones, and communication with the lenders are recorded.  This Short Sale Qualifications system is available to both the listing agent and buyer’s agent, and the information that we log is critical for letting the buyer know that the application is progressing, and that there is a realistic chance for them to receive Short Sale Qualifications.

Look out for our future blogs/articles from our Short Sale Leadership Series content.To view our Short Sale Qualifications blog updates, visit www.whbsolutions.com/blog.

About the Author

For more information on Short Sale Qualifications, join WHB Solution’s community of Short Sale Success and Short Sale Classes and join Short Sale Qualifications experts at www.whbsolutions.com/members.

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