TPS - Short Sale Processing Blog

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Services for Real Estate Pros
We've found in certain circumstances that it is wise for Brokers and their Agents to pass on a listing opportunity when the sale would require a short payoff. Here are a few: 1. 30 days or less until the Trustee Sale Date. 2. Seller(s) have not filed their tax returns 3. Junior lien is a recourse loan with a different bank than the senior lien holder 4. Seller cannot demonstrate financial hardship 5. Seller is in bankruptsy These and other reasons could proclude your listing from closing, so be selective.

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2008 

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For those of you who are or have processed the a short sale with the lender one of the most important aspects of processing is bank follow-up. Do not expect the banks to call you!  You must be the squeaky wheel to get your file looked at. Not only is it important that your file is complete, it i...
06/29/2008

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We have found that under certain cirucumstances that it is advisable for Real Estate Brokers and their agents not to take a Short Sale Listing.  Many have to do with time contrainsts, the particular bank(s) you will have to work with, and homeowner-specific circumstances.  Here is a few that we h...
06/28/2008
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Julie Fontaine

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5 Circumstances Where Brokers and Agents Should Not Take A Short Sale Listing