Charlotte short sale sellers- How to NOT lose your buyer! If it’s your first time to sell a Charlotte short sale home, there are probably a hundred things running through your mind, and one of them is “how do I not lose my buyer to all the competition?”
Follow these four easy ways on how to avoid losing your buyer for your Charlotte short sale transaction:
1. Make an addendum that the buyer must sign before submitting the Charlotte short sale package to the bank.
Outline all the possible things that the bank may disapprove as part of the Charlotte short sale on the addendum. Examples of items that the bank may not approve are past HOA dues, home warranty, septic pumping, and pest control, among other things. Make it clear that even if the bank will not approve these items, the short sale will still go on.
2. Require the earnest money to be deposited by the buyer NOW, and not when the approval for the Charlotte short sale arrives.
When the buyer pays the earnest money check to escrow (or to the title company or the broker trust account), the buyer signifies to the seller that he or she is committed to buy the Charlotte short sale. It will also be more likely that the buyer will not shop around for other homes since the buyer already has made a deposit on your Charlotte short sale.
3. Give all parties weekly updates.
Even if nothing much happens during the week in the short sale process, your Charlotte short sale agent should always give a weekly written update to you and the buyer’s agent. Hopefully, the buyer’s agent will relay this information to the buyers. Buyers appreciate regular updates and will be encouraged that small steps are being made towards the approval of the Charlotte short sale.
4. Set the right expectations.
Your Charlotte short sale agent should also provide your buyers and buyer’s agents with a document on how the short sale agent manages the short sale transaction for you. This document could include the time frame and communication methods. This will be greatly appreciated by a buyer who has never gone through a short sale transaction before and it sets all the parties’ expectations that the approval may not come fast. You wouldn’t want to lose a buyer because they got impatient in waiting for the short sale approval.
If you and your Charlotte short sale agent do these four simple steps, then you will avoid losing buyers and may have a successful Charlotte short sale in no time!
Call Nancy Braun today, don’t hesitate! Call her directly at: 704-325-4955 or send an email at firstname.lastname@example.org