short sale advise

[jdirgo]

John R. is absolutely right. There are specific short sale forms that need/must be included with the offer and in those forms, it needs to be very clear that NONE of the contingency dates begin until short sale approval comes from the bank. Once you have short sale approval (which can take months), then your inspection period begins, financing deadlines start, termite inspection/treatment dates kick in, etc.

Think of it this way, you don't want to pay for professional inspections or financing costs like appraisal until you have the short sale approval from the lender(s). Otherwise, you're just out the money if the lender doesn't approve and you will not get that money back.

John Dirgo, R, BIC, EcoBroker, ABR, e-PRO
Aloha Coast Realty, LLC
808-987-9243 cell
http://www.alohacoastrealty.com