When Would a Lender Refer a Short-Seller to an Agent?

When Would a Lender Refer a Short-Seller to an Agent?

Copyright (c) 2012, Deanna & Jim's GOLD Team

"Riddle me this, Batman. When would a loan officer refer a client to a real estate agent for help with a short sale?"

Obviously short sales normally leave the short-seller not in a position to immediately purchase, so this seems like a valid question.

Well, Mr. Riddler, sometimes there is a couple involved and one of the couple is alone on the note for the short sale, but the other of the couple has the credit adequate to qualify for the purchase of the next home.

Even if both names are on the deed, those whose names are on the notes have their credit impacted by a short sale, deed-in-lieu of foreclosure, or foreclosure.

The GOLD Team are northern Virginia residential real estate experts with over 605 transactions in the last 11 years. We have handled over 150 foreclosures, scores of short sales, scores of investor transactions and hundred of normal buyer and seller transactions.