Short Sale Properties

Oregon Topic: Real Estate Contracts

A short sale is one of the most nuanced transactions in real estate, involving distressed sellers, lender approvals, and timelines that can stretch months longer than a traditional transaction. This course walks brokers through the full short sale process: qualifying a property, setting seller expectations, working with lenders and loss mitigation departments, and navigating the unique ethical considerations that come with representing clients in financial hardship.

What You'll Learn:

•     What qualifies a property for a short sale — hardship, equity, and lender criteria

•     Setting realistic expectations with sellers from day one

•     Assembling and submitting a short sale package to the lender

•     The lender review and approval process — what takes so long and why

•     BPOs (Broker Price Opinions) and how they affect the short sale outcome

•     Short sale addenda and how they differ from standard purchase agreements

•     Ethical considerations when representing distressed sellers

Oregon Course #: 0724