By Eric Reid
(Renaissance Realty Group of Keller Williams Atlanta Partners)
This is our what are FMLS says a Traditional short sale is when the lender agrees to accept a mortgage payoff that doesn't cover the outstanding loan. The 2 options we offer in our system for listing and searching are “potential short sale” and “short sale pre-approved.” FMLS has no way of determining at what stage a property may be in the short sale/foreclosure process, so that is why list it as “potential.” Short sale pre-approved means that the lender has pre-approved the price of the short sale. I wish MLS would get clear on what we are all doing - Short Sales - Potential Sale - Pre Foreclosure - Foreclosure . I just want to sell houses. If your needing to sell call me I figure out for you.