Real Estate Broker for RealtyWrks.com Located in Temecula Calif. 92590 Short Sale Specialist www.aShortSale.com Free help for the D.O.D HAP program & US Treasury Dept HAFA program
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Temecula Short Sale Agent battles buyers!
Here I am again today at battle with a local buyers agent. His client has written a offer on one of my Temecula Short Sale listings. At issue is the buyers good faith deposit also known as the initial deposit. This buyer does not want to put his initial deposit into an escrow account.
As a seasoned Temecula Short Sale agent I have come to learn that buyers with no skin in the game (initial deposit) tend to walk away from a short sale transaction at a much great rate than those who will open escrow with their initial deposit.
During the battle I offer a white flag in the form of a counter offer. In this counter I spell out that the buyer and seller agree to release the deposit from the escrow should the short sale not be approved. Now the buyer is disarmed,if he does not sign this counter he is not a real buyer and shows his true colors! Another victory for this Temecula short sale agent and his client. —– Just in,the buyers agent understands and get the counter signed.
This is a ongoing issue that comes up between short sale buyers and sellers. I understand that short sale are not short and will take 60 to 100 days to complete. As the short sale listing agent I have to put in major hours of work to get a short sale approval and need to know the buyers are serious and will allow me the time needed to get all parties through escrow. Battles are not always required as many buyers agents now know the drill and understand this is just good business.
41720 Winchester Rd #I Temecula Calif. 92590 DRE# 01156692