Who named it that? Nothing short about 'em! ;)

You asked for first reaction; here are my three "first reactions"...

1.  This will take Forever to get to a closing.

2.  Sympathy for the under-water Seller. 

3.  Refer it to an experienced Short Sale Agent.

I used to like them and always was able to create great relationships with AMs, but the last one changed my enthusiasm, it was too time consuming and too chaotic. With housing prices up, we will probably get no SS in my area any time soon. 

CYA. We don't have them anymore in my market but when we did I only got 1 closed successfully-really horrible experiences.

Generally my buyers need to move soon and need to know they have the house so short sales are not for them.

Extended time and most likely frustration.  mark

I  will drill the listing agent with a number of questions to find out if they know what they are doing and if it is worthy of the Buyers consideration if they are in the market for this type of property

Anthony,

One of our friends went through that...it was a reall tough time for them.  A

Find someone experienced who knows what to do . Not all agents are qualified but SFR it CDPE designations are a start but not the best indicators . Ask who does the negotiations  and make sure they have a good track record 

I fall into a dead faint! Seriously, nothing short about a short sale and while I've done a number successfully, I am very happy that they are not a big factor in our market anymore. If asked to represent a seller in a short sale, I work with an agent in our area who specializes in these--we split the commission and he does all the back end work and I do all the marketing. If it's a small sale in terms of price, I let him handle the whole thing and take a 25% referral fee. Win-win all around.

Good morning Anthony. I do many mortgages for clients that are buying property that is a short sale.

It depends on the context.

Long phone calls with lender. 

SEE YA LATER! I fulfilled my obligation to too many lenders assisting in the disposition of their distressed properties. My offers to help have subsequently ended Anthony.

It depends.  We rarely see them in DC, and I've never done one. But they sound like a pain.

They're Back!!!!!!!??????????  Oh, No!!!!!!!!!!

After processing more than I care to count, I turn away.  Banks have gone backward in their willingness to process them.

No!

Refer them..we have so few would not tackle them!

My approach used to be to avoid it all together as a buyer agent. However, lately I've just thought to go for it. As long as my buyer understands that it may get frustrating and knows that I've still got their back, I don't have much of a problem with them. Assuming my buyer isn't in a time crunch.

Been there, done that. 

I wonder how good a value it is and mentally go through my list of people who might want to buy the house.

I usually see a bargain in my area. If so, there's no need to be scared or run, just bring a cash offer from a buyer that is willing wait a bit if needed.

Referral.  I've never done a short sale, and I don't want to screw it up for the seller.  With a buyer, I'd emphasize patience

I feel sad for family who is going through tough times. 😥😓

Anthony Acosta - you mean one that may never close?

My first thought is have all of sellers information ready and allow extra time for bank approval.

If it does not have approved short sale by bank; run like he**!

Anthony - Do I really want to deal with this? They are so hit and miss, and you just never know what is going to happen. I had many buyer clients make offers on short sales back when, and none of them ever got the home. Some of the homes were foreclosed on, some the banks came back and wanted more money, and some were taken off the market.

We are not seeing short sales in Denver now.

Bring them on. I've made a living helping people who needed to sell short.  They are a PITA to manage but I got real good at it.

Hope I can get a hold of the listing agent if my buyers have an interest in those particular properties. That often seems to be the biggest challenge.

It depends.

If someone contacts me to list a short sale, I have a referral partner.

If it is the buyer, we discuss the opportunities and the challenges.  

I'm sick of them. I usually avoid them now. Many times it's clear the listing agent involved doesn't have any experience with short sales. Many times they are already scheduled for foreclosure auction on court house steps.

"It's going to be cold and it's going to be grey, and it's going to last you for the rest of your life".

MY first reaction?  UGH.  Followed by RUN

If it's from a buyer I'm working with, I explain what they are and I will not show it.  If they still want to see it I refer them out.  

If it's from a seller that wants me to work their short sale, I refer it out immediately.  I won't touch them.  

That it will take a long time to close.

Nothing short.