As with any real estate transaction, the sale is only as strong as the communication between all parties involved. And with all of the moving parts involved with short sales – listing price, paperwork, following up with the bank, bank approval, tax implications, etc -problems are bound to come up. Good communication = a good chance of the short sale going through.
Also, it is important for buyers to have a clear understanding of what they can expect in a short sale transaction. Many go into it with little information and therefore their expectations are rarely met.
By focusing on these two areas, short sale transactions don’t have to be as tough or frustrating as they currently are.