by Answerbag Staff on August 4th, 2010

Answerbag Staff

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Can a short sale agent be related to the seller?

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  • by Shauna Zamarripa on August 4th, 2010

    Answerbag Experts

    Great Answer

    Professionally Researched. (What's this?)

    The agent representing the seller in a short sale can be whomever the seller chooses, and can even be a blood relation. However, the buyer cannot be any relation to either the seller, nor the seller's representation. Part of a short sale transaction will be the signature and acknowledgment of this, which is also referred to as an "Arm's Length Transaction Affidavit."

    References:

    Loan Workout.org: Short Sales and Arm's Length Transactions

    Calculated Risk: Short Sales: Arm's Length Transactions

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