If your Realtor is claiming or claimed to be short sale specialist or short sale expert. The problem with the Real Estate industry is that it is not well self regulated. The association of realtors is self regulating to a large extent and they allow their Realtors to make all sort of scary claims.
Ask your short sale specialist how many short sales he or she has closed in the last three months and in their career. Ask to see their short sale package. Ask them if they have a lawyer reviewing the closing paperwork.
Ask what clauses you should add to the listing agreement in addition to the Short Sale Listing addendum.
Ask them what clauses you should have in your purchase and sale agreement in addition to the Short Sale addendum.
Ask them if you can speak with the attorney on their team about alternatives to a short sale such as a deed in lieu. Ask the attorney what you should do when the Notice of Default shows up and the notice of sale.
Ask the realtor what to do if the loan broker inflated your earnings on the loan app.
Ask you Realtor if he or she understands why you should or should not be concerned about a sold out junior.
The list goes on and on. You Realtor should have experience negotiating a sale with the lender and your Realtor should also have a lawyer on to make sure you are protected as well. A short sale specialist without a lawyer is hack.
Ask your short sale specialists a few questions.