Writing contracts for your clients have become an email transaction. Bank owned and short sale real estate contracts are no longer a battle of counter offers. Now you get a response back usually in an email giving you the details of what “will” be in a counter offer should you so decide to accept the terms.
The dilemma this creates is that you have nothing in writing until the seller side sends you back a signed document. What does this mean for your clients? It means that you have got to be very vigilant in keeping tract of all the back and forth emails, faxes and other communications and make sure that your clients know that it is not a deal until it is signed and dated.
My point here is to stress that you need to keep track of all the emails because this is your only documentation to show your buyer clients. Actually, this is the old fashioned way of battle to get to the bottom line. Just remember that other offers can come in and under bid your offers during this process. It is not a done deal until all have signed and dated the contract.
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