Home Buying in 94043>Question Details

Homebuyer, Home Buyer in 94043

I am waiting for lender approval since it is short sale property. The listing will expire in a week. What happens if the listing expires? Does?

Asked by Homebuyer, 94043 Fri Oct 2, 2009

everything get cancelle?

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Answers

7
It is the listing agents responsibility to extend the listing....which may have already be done, they do not typically disclose the length of their listing agreement anyway. Discuss with your Realtor and/or attorney to clarify. Regardless, should not be an issue if everyone still wants to move forward.
Web Reference: http://NorthShoreREO.com
0 votes Thank Flag Link Thu Dec 16, 2010
Homebuyer,

Where's your agent?

And if you don't have one at least get an attorney.

These are questions that someone with knowledge of your transaction should be handling.
One detail slipping through the cracks could cost you thousands!

Hire someone to protect your best interests!

Good Luck!

Rebekah Owen, MBA
Managing Broker
BenchmarkProperties.com
0 votes Thank Flag Link Tue Feb 16, 2010
No worries there. Just sign a listing agreement extension and ask your agent to fax that to the lender and make it part of the short sale packet so it will be available when the negotiator start reviewing the packet for approval.

Best,
Sylvia Barry
Short Sale Specialist
Frank Howard Allen Realtors
(415) 717-0293.
0 votes Thank Flag Link Mon Jan 25, 2010
Sylvia Barry,…, Real Estate Pro in Marin County, CA
MVP'08
Contact
Homebuyer,
Dont panic, the short wont be canceled at all, the listing agent just need to extend the listing on the mls. hope you get you short approval soon.

Grover Barbaran
Realtor
Intero Real Estate
(650) 271-0308
Web Reference: http://www.GroverB.com
0 votes Thank Flag Link Mon Jan 25, 2010
Homebuyer:
This situation I have come across often since i am a short sale and foreclosure expert.
The seller simply extends the listing to the closing date. Should not be an issue.

The bank will be aware that the listing is expiring soon and they will instruct the listing agent to extend the listing or if all else fails your closing attorney can ask for an extension.

Now,. if the seller has a law date (a date when the bank will take possession of the property-strict foreclosure) then and only then does the attorney asks for an extension because there is an offer being worked on.
I would just keep close contact with my realtor.


Good Luck with you home purchase!
Betty Stroll ABR,GRI,CIPS,SFR
William Raveis Real Estate
0 votes Thank Flag Link Wed Nov 11, 2009
Hi Homebuyer,
The offer that you made is an agreement between yourself and the seller of the property regarding property purchase.
The listing agreement is between the seller and the listing agent and is basically an agreement for the agent to be paid for their work.
Your offer should not be affected as it's separate to the listing agent's agreement.
If the listing agent wants to be paid for introducing you, however, they may wish to notify the seller in writing that you were introduced during the time period that the listing agreement was in force. Similarly, if you're dealing with your own agent, that person might want to confirm their rights inder the Agreement, as they're probably more at risk of losing out than you are.
0 votes Thank Flag Link Tue Oct 6, 2009
Have your agent remind the listing agent that the listing is going to expire. The listing agent just needs to get a listing extention from their local Realtor® board or online.
0 votes Thank Flag Link Mon Oct 5, 2009
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