There
are four different entities that are working with each other in order
to conduct a short sale and these are the seller, buyer, realtor, and
lender. The seller is the person who sells the property to save himself
from mortgage. The buyer is the person who is willing to pay for the
property. A Las Vegas realtor is someone who will be working on the
documents to complete the transaction. The lender is the person who
releases the money in order to allow a person to buy the property.

The
lender who causes problems is the one who gave the seller a loan to buy
the property. Short sales are conducted because the person no longer
has the capability to pay for the mortgage; hence forcing him to sell
the property at a much lower price. When a lender sends an appraiser to
determine the value of the property and found out that it is being sold
for a price lower than its value, the lender, in some cases, won’t
approve the short sale.

The Las Vegas realtor or real estate
agent could also be a reason why it is so hard to do a short sale. Since
the property will be sold for a much lower price, the realtor will
receive smaller commissions. For example, if they normally receive 6%
commission for every sale and will receive 4% for a short sale; the
realtor won’t show it to the buyer. Since they will be doing the same
work to close the transaction, they think that it would be better for
them to simply hide the short sales and focus on selling normal
properties.

The
buyer could also be a problem in some cases, because there are buyers
who cannot wait for months to get a new house. Normally, short sales
would take months, and if a buyer cannot wait this long for a property,
then he would simply ignore the idea of buying short sales. A Las Vegas
realtor won’t be able to do anything with it, even if he is eager to
sell the property, because of the time that it will take to close a
short sale. This is also one of the reasons why there are Las Vegas
realtors who are having problems in closing short sales.

The
seller, regardless of his need to close the deal will, in some cases,
decline the sell the property due to the fees that he needs to settle.
There are some people who would simply wait for their property to get
foreclosed instead of paying for the fees, because they think that it
won’t advantageous for them. It is not that common, but this situation
will occur in some cases.