Ever have a listing agent place a property in the MLS as a short sale without speaking with the bank first?
Just because the homeowner agrees to list the property as a short sale does not mean that you, the buyer, are dealing with an actual short sale.
Did you know that the seller/homeowner/borrower has to give their written permission to the representatives of their choice to speak to their lender regarding their situation?
Did you know that sometimes each lending institution has their own forms that they require be used? If and when the representative fills out the required form(s), it still does not mean the property is a short sale, only that the lender's loss mitigation department will allow that representative to talk with them regarding the seller's loan(s).
Did you know that I get really witchy when my buyers offer the full asking price of a short sale, only to have the binder go nowhere because the short sale is not really a short sale because it was never approved by the bank.
If you didn't know that not doing your job could flip my b-switch, well, now you know...
Put Short Sale Authorization Pending in the remarks section people.
Seriously... It is something that my buyer and I would really like to know...
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