3)Unrealistic Time Frame Expectations
– This one can go hand-in-hand with the first two, but it is a crime committed by both Buyer and Seller. Short sales are anything but short. In fact, they should be called Long Sales. The typical short sale can take 2-6 months to complete. Sellers need to know that they are in for the long haul, and Buyers need to understand that they may not know if the ‘won’ the bid for a couple of months. Many times, Buyers have the best of intentions when they make a bid on a property, but after only 30 days, I have seen many Buyers get antsy, thus marking an end to their contract.