• Login
    • Register

Central Oregon BuzzCentral Oregon Buzz

Thesa Chambers, Principal Broker

Contact Us Today At (541) 771-7064
thesa@centraloregonbuzz.com

70 SW Century Dr #110 Bend, OR 97702

  • Menu
  • Home
  • Search
  • Buyers
    • Buyer’s Info
  • Sellers
    • Seller’s Info
    • Sold & Active Listings
  • Communities
    • La Pine
    • Three Rivers South
    • Bend
  • Resort Communities
    • Caldera Springs
    • Sunriver
  • My Listings
  • Blog
  • About
    • Connect with Thesa
    • Connect with me.

What is an Accepted Offer on a Short Sale

иконописПравославни икониCentral Oregon Short sales are confusing to almost every party involved.  Many times a listing agent without the proper experience or without the proper guidance does not realize who they are truly working for.  Often they will actually act on behalf of the bank instead of the seller.

A listing agent represents the Seller and only the seller.  Once a seller accepts an offer of a short sale the offer is submitted to the bank along with additional or updated financials from the seller, an estimated HUD statement and then the process begins.

Once the seller has accepted an offer and it is submitted to the lender or lenders the property is now Contingent Short sale in the Central Oregon MLS, or should be.  In theory the seller has agreed to sell the home, for the terms and conditions set in your offer.

Not All Agents Are Created Equal

Notice I say in theory, you see not all listing agents are equal when it comes to accepting offers, submitting offers or even understanding the process.  If you are willing to look at a short sale as your potential new home or investment home  then you need to understand that not all agents process a short sale the same.

Knowing what the listing agent is going to do, if they are going to change the MLS status, if they are going to work through one offer before submitting others to the bank and so on are very important facts that you as a buyer should know so you know what to expect on the process of your transaction.

If in doubt it may not hurt to have your agent (and you should have your own agent on any real estate transaction but on a short sale especially) to write these terms into your offer.

It is my personal opinion and those of many of the instructors of the classes I have attended that once a seller accepts an offer – any additional offers go into a back up position.  After all a seller can only sell a home once – be careful out there not everyone is qualified to help you through a short sale.

Posted in: Short Sale Information Tagged: more than one offer, short sale, shortsale, writing offer on short sale

Comments

  1. Jason Morris says

    October 4, 2011 at 8:00 pm

    One of the most difficult things with short sales is working with other agents who have little to no short sale experience

    Reply

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Post navigation

« How Long Does It Take To Buy a Short Sale?
La Pine Bank Owned Homes Sneaking Into The Market »

About Thesa

As your real estate agent, I understand the value of providing the best possible service to every buyer and seller. Listening carefully to fully identify not only your desires but also your needs. Then work diligently to ensure that both are accommodated to the best of my ability. We will stay abreast on changing market conditions, trends, developments and research all factors that could affect the purchase or sale of your property.  My success and your happiness greatly depend upon the quality of the relationship we achieve.  Through personal redefinition of the professional standards set by most agents, I hope set myself apart from the rest and become the first person that you think of for all of your real estate needs.

Search Homes

  • Basic Search
  • Search By Address
  • Search By MLS#
  • Map Search
  • Create an Account
  • Log Into Your Account
  • Connect with Thesa
  • Request a Home Value

Contact Thesa

Thesa Chambers, Principal Broker West + Main Homes
thesa@centraloregonbuzz.com
(541) 771-7064
© 2023 · Equity Framework
The data relating to real estate for sale on this website comes in part from the MLS. Listing broker has attempted to offer accurate data, but is not guaranteed accurate. All information presented is deemed reliable but not guaranteed.

Listings Sitemap · Log in