October 2012 Forms
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Seller’s Listing Agreement with Shortsale Contingency / Authorization to Release Confidential Information to an Agent
An owner wanting to get out of his negative equity home meets with his real estate agent to discuss how he can sell it. The agent explains the process of the owner qualifying for a short payoff on the lender’s consent to the sales price once a buyer is located.
The agent, interested in listing the property as a shortsale:
- enters into a listing agreement conditioned on negotiating a discounted payoff of the loan with the lender [See first tuesday Form 102-1]; and
- obtains written authorization from the owner for the agent to negotiate with the lender to arrange for a short payoff on the owner’s behalf. [See first tuesday Form 124]
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loading...About The Author
Connor P. Wallmark
is a licensed real estate agent and the senior editor in charge of the first tuesday Forms and the Economic Trends in California Real Estate, Agency, Fair Housing, Trust Funds, Ethics and Risk Management, Real Estate Matters and Real Estate Principles books.
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