Short Sales are becoming more common in our area as more sellers seek to work with their lender to sell their home "short" of what they currently owe. There are two main parts of the offer/contract process: the normal negotiation process that takes place between the Seller and prospective Buyer and the lender approval process.

The purchase of a home most often requires negotiation between the Seller/Seller's agent and the Buyer/Buyer's agent. This is the time when price and concessions, closing date, and other terms are agreed upon. In Texas, after a short sale offer is negotiated and becomes a contract, the lender must agree to all terms before the sale can go forward. This is why homes are listed as "potential short sales". It takes experienced agents on both sides of the transaction that are familier with current short sale requirements to make the the process as smooth as possible.

In addition to pre-approval for a mortgage and cash for downpayment and closing costs, the Buyer must bring EXTREME PATIENCE to a potential short sale. It often takes up to two months to get a response from the lender -- and sometimes a bit longer for the approval or dis-approval. 

To request an up-to-date list of Potential Short Sales in this area click CONTACT US. You will receive the list by return email. If you have questions that require an immediate answer, please call Kathy (830-708-2235) or Mike (830-708-8389).