Current Short Sale

[Courtney Merricks]

Good Morning Bigger Pockets,

I am a rookie investor that was blessed to have my first potential deal fall in my lap last month. This deal was brought to me by one of my colleagues. Her family member was working with an attorney and his team to assist her with a short sale of her primary residence; due to the lack of communication she decided not to work with his team. To make a long story short, I was introduce to her, which I informed the homeowner that I was new to real estate investing, but I am willing to see how we could help her with her current situation.

After speaking with the client we agreed to assist her. After getting the contract signed between her and I, the Realtor informed her that she would have to start the process all over again, which she would need to complete a new application to see about getting the short sale approved. The client informed me on a recent phone call that she already received an approval letter from the bank, but she did not remember completing an application with the Realtor she was originally working with. During this phone call, she informed me that she did not feel comfortable completing the application because her income has increased since she was received the first original approval and she was afraid that the bank would not approve the new short sale offer. So, my question is should I walk away from the deal and/or continue to work with the client to see if we can get this deal done? What are your thoughts?  

Thanks,

Courtney

New Real Estate Investor in Plantation, FL