Why short sales are not for everyone 

Flickr image courtesy of LuMaxArt.

It has been four years since I worked with my first short sale. I listed a townhouse for a friend and while it was on the market she stopped making payments and I ended up with my first short sale.

The process was stressful for all parties. It worked out, and we are still friends -- which will always be more important to me than a commission.

We got bank approval on an offer after only three months, but the "file" was sold to another institution two days before the anticipated closing, which caused more delays. But it did eventually close.

Personally, I would have come out much better if I charged an hourly rate instead of a sales commission.

more...

To view this premium content sign in to your Premium Member account.

Premium Members have full access to all news archives & premium content.

Purchase Professional Membership for $199/year OR
Premium+ Membership for $149/year OR
News Membership for $69/year

Buy Now

Advertise with Inman

All rights reserved. This article may not be used or reproduced in any manner whatsoever, in part or in whole, without written permission of Inman News. Use of this article without permission is a violation of federal copyright law.