Short Contingent vs Pending Short Lender Approval
What’s the world coming to when you can’t make idle threats anymore? Like, you can’t tell a guy you’re gonna hit him in the head with a shovel and bury his body in the desert without some jury awarding him $20 million in punitive damages. Even if he is a porn guy, or soft porn or whatever. Criminy. And you can’t threaten to burn down somebody’s house at a City Council meeting, either. Whatever happened to freedom of expression? Huh? Why can’t you just talk off the top of your head? Vent a little? It’s like words have meaning or something, and people take you seriously.
We need to go back to the days of Joe and Curly and Moe. When you could just poke somebody in the eyes with two fingers and nobody cared. Maybe zing a pie of whipped cream in a face.
People get frustrated. That’s pretty much a given. It doesn’t take much sometimes. Take Sacramento short sales for example. Buyers are very frustrated when they read listings in MLS that are a short sale. MetroList has attempted to clear up the confusion by offering two status choices after an offer has been received. But the problem with MetroList is a buyer can’t see the change when it’s active short contingent. That status modifier is hidden in the bottom right corner of the listing the buyer receives.
Agents don’t much understand it either. I know because as a Sacramento short sale agent some of my listings are listed as “active short contingent” and some are listed as “pending short lender approval.” Short Contingent means we have an offer. It also means we are open to back-up offers, and we might already have a few. An inquiring mind should call and ask. Bear in mind that a true back-up offer incorporates a purchase agreement addendum. No PAA, no backup. And a seller is not required to sign a back-up offer. Pending Short Lender Approval means we don’t want any back-up offers, and there are no more showings.
If you’ve got a gripe with the way Active Short Contingent shows up in MLS for a buyer, take that gripe to MetroList. That’s who your beef is with. It’s not with this Sacramento short sale agent. And watch where you walk. There are banana peels on the ground.