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Short Sale Pitfalls to Avoid: Problems with Deal Submission

Don't let a poorly submitted deal slow down your short salePoorly Submitted Deals Don't Get Approved

Problems with deal submission are another pitfall that homebuyers must avoid when working to purchase a short sale. Failing to follow the directions provided for deal submission will result in problems. Departments dealing with these transactions are already understaffed and overworked. They do not have the time to handle the problems with a shortsale file. Deals that are not submitted properly are unlikely to be approved.

To avoid these issues, buyers and sellers both should ensure they follow the instructions for submitting the deal. Even the small instructions, such as directions to mail two copies of certain items, should be followed exactly. No one wants to have their shortsale deal fall apart because of a silly problem with deal submission that could have easily been avoided.

Next: Short Sale Pitfalls: Inadequate communication and followup