Doesn’t the Short Sale Seller Have to Accept My Offer?
In all residential real estate transactions the owner of record is the one who decides if they are going to accept, counter or deny an offer.
- If the home is Bank Owned the bank is the seller.
- If the home is a Short Sale the homeowner is the seller but needs third party approval from their lienholder(s).
- If the home is an Equity/Traditional Sale the homeowner is the seller.
Oftentimes buyers along with some real estate agents think short sale sellers forward all offers to their short sale lienholder(s) and they are the ones who will accept, counter or deny their offer.
Unfortunately, this is another misconception when it comes to Wellington Florida short sales.
If you are looking to buy a short sale your offer will be presented to the short sale seller who will accept, counter or deny your offer. If both you and the short sale seller come to terms the offer will then be passed onto the short sale seller’s lienholder(s) for approval.
So the answer is NO a Wellington short sale seller does not have to accept your offer.