Short Sale In Progress
I am in the middle of my first Short Sale (Thanks to Sharon & Dwan's FF Course), here are the details...
The homeowner was in complete denial and we could not close a deal in preforeclosure. The day before the auction she called me and said she filed Chapter 13. Now that the reality has set in she has been more flexible... 
I have an "Auth to Release" signed and a Short Sale package ready to go to the lender. I am missing the key document "Contract = Control". She has had the house listed with a Realtor and the Agreement expires in 4 days. I have made only one attempt to contact the agent, but what are my obligations to include the agent in the deal.
My thought is that the agent did nothing to sell the house but list it, so I let the Agreement expire (in lieu of asking the Agent to break the Agreement since the homeowner is in despair) and have the Contract signed and move with the SS. What is the best approach.
Here is what you might learn:
#1. The homeowner's bankruptcy might preclude the mortgagee from entertaining any type of workout strategy, unless and until the bankrupty is dismissed, or discharged.
#2. The real estate broker's listing agreement extends beyond the term of the listing. Probably 90 days. Meaning that following the expiration of the listing agreement, if the Seller went into contract to sell or lease the property to anyone introduced to the property during the time of the listing, the Seller would be obligated to pay a real estate commission. Not that they will enforce it, but it's good to know the mechanics of a listing agreement.