Ah-Ha of the Day – Short Sales – Seek Legal Counsel?

by Jamie Sistek on July 28, 2010 · 0 comments

Note: Ah-Ha of the Day was created with the real estate professional in mind, but may be applied in other industries and provide great information for home buyers & sellers.

As a seller’s agent, do you list short sales? If you do, are you listing them in the Multiple Listing Service (MLS) immediately following the signed agreement from the seller?

It may be in your best interest, and more importantly your client’s best interest, to wait at least 7 days prior to making the listing active. This gives the client the time and opportunity to talk to legal and financial counsel should they so choose.

If you list the home immediately, is there potential liability you could face? When did your client have an opportunity to talk to legal and financial experts?

It may also be in your and your client’s best interest to have a disclosure explaining their options for legal and financial counsel as well verbiage they have an opportunity to seek advice and will pursue this option or they are rejecting this opportunity.

You may want to talk to your broker as to what disclosures, if any, they may have or would like to create, to address this everchanging market.

Home Buyers & Sellers: Have you considered buying or selling a home in the Scottsdale/Phoenix area? Call Jamie at 480-451-1400 or email Jamie@TickledPinkHomes.com and let’s get started!

Please let me know if you have any questions, anytime!

Tickled Pink,

Jamie Sistek – REALTOR
“That Tickled Pink Girl”
eXp Realty
480-451-1400 – Direct
480-734-1971 – Cell/Text
Jamie@TickledPinkHomes.com
Jamie on Facebook: www.facebook.com/sistek

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