About Alisann Smookler Expertise My background includes Residential Real Estate (first time home buyers, primary residences, second homes, investor homes, resort and golf properties) Lending, Title/Escrow and Home Warranties. I am a Broker in Nevada, so I am able to answer questions which are specific to Nevada as well as general real estate questions. I work for an international real estate company and thank you for taking the time to contact me. Understanding the buying and selling process in real estate can be danting. No matter how many people you ask, you will get as many varied answers. My goal is to help you understand the process and giving you ideas and direction in this very competative business.
Experience I was a residential Loan Officer for 7 years. Then I went into Title and Escrow as a Exective Account Manager for 2 national title companies - 3 years. After that I went into representing a national company - Home Warranties. In 1994 I became a real estate broker and focused on Residential real estate in Nevada and Arizona.
Publications Christian Science Monitor
Prudential Real Estate National Publication
Keller Williams Out Front Magazine
Greater Las Vegas Association of REALTORS-Southern Nevada REALTOR
Education/Credentials Associate Business Degree from the University of Texas
Formerly the Real Estate expert with www.ivillage.com (Chat room and Message Board-Real Life Real Estate)
Awards and Honors Affiliate of the Year 1992
30th in the National for Team Production with Keller Williams Realty 2005-2006
Rookie of the Year for Keller Williams Realty 1995
We have an offer in on a short sale that is contingent on selling our home. The bank has not accepted the offer and may not. If they do accept the offer I assume they would want some earnest money. My question is what would happen if we did not sell our home. Would we just forfeit the earnest money? We probably cannot qualify for another mortgage without selling or home.
Our home is in the price range that is still selling in the area so we are hopeful that we can price it right.
Thanks
Doug Smith
Answer Hi Doug, Typically a short sale bank will not accept a contingency like this. IF they do, your earnest money should be refundable if you cannot find financing and/or your home does not sell. This should be in your contract and explain what happens and what safeguards you have. Good luck to you.
