In Part Two of our five-part Short Sale Series presented by Wendy Shaw, of The Russell Shaw Group, we take a look at contracts and identifying your contract philosophy.
Contract Philosophy:
When it comes to contracts, you can take three different approaches. You can choose to 1) Submit the first offer you receive and place additional offers in the queue, 2) Take the highest/best offer, 3) Require non refundable earnest money. You must decide the level of commitment you require to identify your contract philosophy– do you want to be married to your client (i.e. earnest money) or do both you and the seller agree to see other people (i.e. first offer submitted)?
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