In my day to day business I am taking with many Real Estate Professionals throughout the Country. Due to what I am doing the subject Short Sale is never far from the discussion.

Most of the time the agents are just frustrated with short sales!

Sitting at the other end of the table I can see why many short sales take forever to close, especially when the short sale involves a FHA loan.

Many times when a property is listed the homeowner NEVER received a written short sale approval from their servicer.  Servicer will not look at any offer we bring them when it involves a short sale with an FHA loan unless the OWNER has asked AND received IN WRITING the Short Sale approval PRIOR to listing the property.

When owners fills out the needed paperwork to request for a loan modification and or short sale I have noticed that some of the paperwork is either not filled out, filled out incorrectly, not dated, not signed or information is just plain missing without an explanation.

 …so…when you are asked to list a possible short sale that involves a FHA loan make sure all the T’s are crossed and all the I’s are dotted before you have the owner sign your listing agreement.