Why would my realtor tell me that he doesn't like dealing with "Short Sales"?

Question

Are they really a pain?

Or is the real deal that he will make LESS of a commission?

He told me that the listing prices with "Short Sales" are deceptively low...

Any truth to this?

Answer 1

This is a very common sense answer, less monies less commission, that is why he doesn't want to do it

Answer 2

commission, i agree with the 1st poster.

Answer 3

It isn't that they make less commission, it is that the deal might not be real.  Once a seller accepts a deal, they have to go back to a lender to get approval.  The lender may or may not approve the deal, or may come back and try and negotiate.  However, if you are willing to deal with the potential downsides, you may want to find another agent.

Answer 4

I work in a real estate office and there are a lot of different opinions on short sales and although commision MIGHT be lower it's mainly because short sales take a ridicoulsy long time to get approved. You could be waiting 2 months to hear back if the contract will or will not be accepted, not to mention it has to be approved by the previous lender.  It's also hard to negotiate a short sale and typically sold in 'is as' condition.

Answer 5

they aren't clean sales. Have you gotten approval from the mortgage company to do this? Have they said they will forgive any balance on the loan you can't get back from the sale? very important questions