I went to a meeting about SHORT SALES this morning. It was very interesting.
We now have a SHORT SALE Supplement to Listing Contract and a SHORT SALE Rider to the Sale Contract. The St. Louis Association of Realtors has also provided us with an Authorization to Release Information form to go along with these.
These forms were just approved in February 2008. We already know that some modifications are in the works. Many have done SHORT SALES without them.
I have to admit, I've never sold a SHORT SALE - or listed one for that matter. So, this information was very helpful to me. I'm seeing more and more SHORT SALES out there, so I know I'm bound to come across one sooner or later.
I'm just thankful that the forms will be waiting for me when I do... :)