Blog Series: Steps To A Successful Short Sale Close – Counter Offers and Approval Received

Blog Series: Steps To A Successful Short Sale Close – Counter Offers and Approval Received

Short Sale Solutions

We are releasing a seven part blog series of the steps to complete a successful short sale transaction with us, Short Sale Solutions. We will walk you through, step-by-step, the process as well as how you can have an exceptional service handle your file and also retain your full commission.

Step Six: Counter Offers and Approval Received

  • Here is where the true negotiating comes in and where our expertise steps in.
  • Counter Offers
    • Counter offer typically comes in first
    • We DO NOT make any decisions as to acceptance of the offer. We will bring the counter to you for discussion and approval.
    • Note: Counter offer will most likely be higher than the original offer. DO NOT PANIC! It is the job of the lender’s negotiator to try to get as much as possible for the property.
    • Based on the conversations that we have been having with the negotiator, we should be able to recommend to you how to counter back. We can tell you whether to hold fast or come up a little bit, or if the lender is set on their price and will not budge.
    • Remember just because they counter back at a higher price, doesn’t mean that the buyer has to accept.
    • During this time, other fees will be negotiated as well as the agent’s commission.
    • Again to repeat, WE DO NOT MAKE THE DECISION to accept or reject a counter. It is up to the buyer to determine whether or not the counter offer is acceptable.
  • Approval Received
    • Sent to listing agent for approvals from all parties
    • Escrow is opened

 

 

Blog Series: Steps To A Successful Short Sale Close – Counter Offers and Approval Received

Short Sale Solutions

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