For buyers and sellers alike, there is great risk in financing a short sale in these far too difficult times in Hernando County Florida. A seller is already in a tight enough spot trying to unload their home at far less than the mortgage.

Once a bank approves a short sale, the sale must close on the date specified or all parties involved could be fined one hundred dollars or up to five hundred dollars per day. If for some reason the buyer fails to obtain financing that will close the transaction, everyone is out and the process could start all over again, taking months or even worse, hurry the seller to foreclosure.

I'm in that situation now as the seller's agent in Brooksville Florida, dealing with the buyer who is the current renter who is not responding to the close date and requirements of their mortgage company. So it's last minute scouring for a cash buyer among other agents, Craigs List and whatever other network possibilities to close this home within two weeks from now. But it will get done.