Here is What an Active Short Sale Contingent Means

I have a couple of dozen short sale listings in active contingent status at the moment and know first-hand that many agents don't know the meaning of an active short sale contingent.

Not every MLS utilizes a status modifier such as active short contingent, but many of those systems are implementing this status. They want a way to differentiate between the short sales that are active listings and those that are pending sales.

Before my short sales are placed into active short contingent status, I try to collect multiple offers for my sellers. The Sacramento market is really hot right now, which means sellers who price their homes under market value generally receive more than one offer.

The challenge for most sellers is to select an offer from the most committed buyer. They want the buyer who will wait until the moon turns blue for short sale approval and hang in there for the duration . . . read more about Active Short Sale Contingent.

More Articles by Elizabeth Weintraub:

• What is an Approved Short Sale?
  
• Things to Know Before Buying a Short Sale House
  
• Reasons to Not Buy a Short Sale

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