Short Sale Buyer List

Short Sales Short Sales!

I have listed and negotiated many short sales in the last few years. A few were easy to negotiate and a few made me pull out the little hair that I have left. As a listing agent you create systems or procedures which helps you and the seller expedite the short sale. In the buyers case its a little different. Since many buyers are unaware of the short sale mitigation process I decided to put a list together to educate my buyers when there looking to purchase a short sale...

Even though I normally list short sales, I also work with buyers looking for short sales. In order to provide the best quality service to my buyers, I asked several buyers agents "what are buyers looking for when purchasing a short sale"? Many buyers are turned off with the highly competative of the REO’s and are willing to wait on the approval of a short short sale. I’ve put together a Short sale checklist which enables me to service my clients better…

Short Sale Buyer's list (Tampa Bay)
1)If the home has been owner occupied I try to obtain a “property disclosure”

2)I ask the listing agent "if the property is vacant", if vacant who is responsible to turn on the utilities for inspection purposes.

3)If the property is occupied, I need to know what items convey with the purchase.

4)I also ask if the property is tenant Occupied..If the property is a tenant occupied, are the tenants aware that the prorpety is for sale and will they vacate the property before closing?

5) I specify on the contract that the "inspection period is effective upon approval of the lender".


The above list will are essential elements that should be presented prior to a buyer submitting an offer on a short sale. By having these questions answered it can prevent issues when the approval letter has been received.
Please feel free to provide feed back or call if you have a short sale question.
Thank you,

Ainsley Daux
Lic Realtor
Florida Realty
(813)546-1954