Realtors® - How does it work?

Approved Short Sale - Utilize the Fastrack selling process, but with only the Buy Now and Online Auction pricing modules enabled. The Buy Now price is set at the lender approved price and commission structure. In the likely event that nobody makes an offer to purchase at the Buy Now price, you have the Online Auction enabled and can hold the auction at the end of the preview period. Have the contract executed by the winning bidder at the winning bid price. You now have an ironclad "Highest and best offer" contract to present to the lender. Lenders will generally approve the sale when you can demonstrate that you have sufficiently marketed the home and have held a competitive auction, which is what they would do if they ultimately had to foreclose on the home. You can even submit a "Bid History" report from the auction showing the number and amount of bids received.

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