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The word of a Realtor / How long to wait on a Short Sale

First off, the realtor should NOT have advised her on tax issues, that is not our job, that is the job of a tax attorney or a CPA, and that realtor should find themselves in HOT WATER with the board and the NC Real Estate Commission. We, as brokers will not say anything to get a sale, we aren't timeshare salesmen, we are real estate professionals, and personally I take offense to being called a crook. Most of us are bound by ethics and morals to treat customers and clients with honesty and fairness.
As for the banks, no one knows from one minute to the next what the banks are actually going to do on a short sale. You have to remember that once a short sale property goes under contract it belongs to the bank, and the bank makes the rules, which means they can take offers up to the day of closing, get a better offer, take that offer and close and never let the first party know that the house sold to someone else. Thus all of the addendi...My advice to anyone interested in a short sale is to either accept the fact that even if it goes under contract there is still a chance that you won't get it, and if you do it may take six months to close, so unless you aren't in a hurry and unless you just absolutely HAVE to have the property, I'd keep on looking.


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