Home Buying in Ocean City>Question Details

Shorty, Home Buyer in Ocean City, MD

Where would I find a listing for Expert Short Sale Realtors in my area?

Asked by Shorty, Ocean City, MD Tue Jul 6, 2010

We, the buyers with a contract on a home offered as a short sale, have been 'patient' now for 6 months awaiting a settlement date. We have agreed to purchase the home for $15 K over appraisal. There are 2 mortgages on the property. Although we do not blame either the sellers realtor or our realtor, no one is communicating with the Loss Dept.'s daily. Is there something else we can do to get this contracted home to settlement?

Help the community by answering this question:



One of my associates named Joel Maher is a specialist on the Eastern Shore. Search "Salisbury" and his profile will pop up.

Joel and I have worked dozens of short sales and foreclosures together. We would be happy to work as a team to help you with your needs.

Please contact me anytime.


Adam Roop
Ocean City / Salisbury MD
0 votes Thank Flag Link Wed Jul 7, 2010
I don't know of a list of experts. There are Realtors who have had experience with short sales either while representing the buyer or representing the seller by having the short sale listed. There are agents also that have taken a course to better understand the short sale process. I would call one of the Realtors you have been looking at and simply ask them their experience level with short sales. There are some basic things that pertain to all short sales but I have found that each is unique. One reason for that is the lender involved. I would suggest in addition to asking their experience with short sales, you ask their experience overall in the area you are looking. Don't be afraid to interview for a good agent. I would be happy to answer your questions if you called me.
Good Luck,
Terry Looney, CRS, GRI, WHC
0 votes Thank Flag Link Wed Jul 7, 2010
I'm so sorry to hear about your situation and am sure it's frustrating. It can be very challenging to negotiate with multiple banks and staying on top of things is key.

There is a certification for realtors in short sales, and I've provided the link for you to search for agents who have received that certification below. I wish you the best of luck!

0 votes Thank Flag Link Wed Jul 7, 2010
This is the sad details of a short sale. They can take 30 day to up to a year or more to complete. In the end it may never even be approved. The person responsible for the mortgage has the right to allow parties to speak to the bank. They give written permission usually to their Realtor. The seller or whom they give permission to can call the banks loss dept. and get updates. I just had a cash buyer walk from a bank of america short sale (they are the worst). My buyer waited 9 months with no information from the seller or his agent.

Best of Luck,
0 votes Thank Flag Link Wed Jul 7, 2010
Try a google search for the term short sale ocean city. You'll see several come up. Anyone who has taken a course (even an on-line course) can earn a designation that says they are a "specialist". Be sure to ask how many sales they have successfully closed and in what time frame. Be leary of anyone that asks for money up front. And be sure the agent is asking lots of questions about your loan type(s), lenders, proof of financial hardship etc. They should be qualifying you in advance.

Laura Roskelly
0 votes Thank Flag Link Tue Jul 6, 2010
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