Nevada Real Estate >> Las Vegas Real Estate Specialist: Michelle Gibson REALTOR® Wellington Florida Homes for Sale (Hansen Real Estate Group Inc. )

Will a Short Sale be Approved Faster with a Cash Buyer?

Will a Short Sale be Approved Faster with a Cash Buyer?

Today a real estate agent questioned whether or not one of my short sale listings would be approved faster IF the buyer was paying cash.  Unfortunately cash buyers will have to wait in line just like buyers who are obtaining financing.  Short sale lienholders are focusing on their bottom line, not the buyers financing terms and the length of time a short sale takes to be approved (or denied) ultimately depends on the short sale seller, short sale listing agent and lienholders.  

  • Wellington Short Sale Approval BoatIs the short sale seller cooperating?  
  • Is the short sale agent on top of things?  
  • Are the lienholders responsive and processing the file?

Now once the short sale is approved a cash buyer definitely has the advantage over a buyer who's obtaining financing because they should be able to remove outstanding contingencies quickly and close, but I have yet to see a short sale lienholder approve a short sale faster because the buyer is paying cash and could close "quickly."

Unfortunately cash buyers and buyers obtaining financing are in the same boat when it comes to the length of time it takes for a short sale to be approved.

Originally posted at http://wellingtonhometeam.com/will-a-short-sale-be-approved-faster-with-a-cash-buyer/

Michelle Gibson REALTOR®
HANSEN REAL ESTATE GROUP INC.
561.333.0446


©2011 All Rights Reserved
34 comments • Michelle Gibson REALTOR® Wellington Florida Homes for Sale • October 12 2011 11:38AM

Would you take this Referral? It's a "short sale flip"

Would you take this Referral? It's a "short sale flip"

A majority of my business comes from referrals, so I wasn't surprised when I received the following e-mail from a potential seller who was referred to me by a very loyal past client.

short sale flipMy name is Ms. Investor, and I'm a real estate investor. I have the property at 123 Crazy Lane under contract and as the buyer, the contract allows me to re-market the property for a profit. I'm negotiating the short-sale with both lenders and the HOA, on my own.

Basically, I'm doing a short-sale flip. The original homeowner knows this info and so will the end-user and their lender. I'm all about full-disclosure in my contracts. Would you be interested in listing this property for me for a 1% list fee? I'm willing to give the buyer's agent 5% (i know the standard is 3%), but I want to incentive the all buyer's agents. My understanding is that this place is actually a challenging place to sell.

If these terms work for you, then GREAT. Please send me the listing contract via docusign or email. I've attached my contract and disclosures with the homeowner, which shows you that I have the contractual right to re-sell this property before I get the title. (if you're an investor, this is no different than a consignment deal).

If this flip transaction isn't up to your standards, or it's too creative for your comfort then...Would you kindly refer me to someone else, please I was originally thinking of enlisting a flat-rate MLS service, but Mr. Loyal Client highly recommended you.

Would you take this referral?

Michelle Gibson REALTOR®
HANSEN REAL ESTATE GROUP INC.
561.333.0446


©2011 All Rights Reserved
12 comments • Michelle Gibson REALTOR® Wellington Florida Homes for Sale • August 14 2010 04:33PM