We finally got approval from the bank on a Short Sale deal here in St. Petersburg.
Everybody is very happy, we worked very hard on it and now the ball is in the buyer’s court. He needs to make a deposit, needs to make the application for his mortgage, schedule the inspections etc. Nothing is happing. The buyer’s agent does not seem to understand that NOW time is of the essence. The buyer waited so long for this deal and now he could lose it just because his agent doesn’t understand Short Sales. I am a single agent for the seller and in the seller’s best interest we might have to terminate the contract today and put the house back on the market. It will go fast since the price is incredibly low and we can advertise it as an approved Short Sale. Wonder what the first buyer will say when this happens. Wonder when his realtor will wake up (if ever)