Short Sales - The Players
The Lender - Short sales work for lenders because they reduce costs on at-risk loans that are delinquent and on their way to defaulting.
The Loss Mitigator - The real estate professional must build a strong relationship with the particular lender's loss mitigator that is assigned to the short sale.
The Title and Escrow Company - The title and escrow company is just as important to a short sale transaction as it is to normal real estate sales.
The Home Warranty Company - Most homes that are candidates for a short sale are not in prime condition and most likelydo not have home warranties that are transferable.
The Buyer - All real estate transactions require a buyer.
The Real Estate Professional - A short sale/pre-foreclosure trained and certified real estate agent is central to the process of making a short sale.
