What Is An Equator Soft Decline?
An Equator soft decline is a term used for declining an offer on a short sale that is being processed through the equator online platform. Short sales are moved forward in equator on the agents and banks side by completing tasks. At this point in time there is no way on the users end to backtrack and redo tasks. There is where a soft decline comes into play. For example: if a buyer walks on a transaction and the “submit an offer task” was completed, a soft decline will need to take place in order to input the new offer without the transaction having to start all over. It also can be used to correct errors such as imputing the buyers name incorrectly. A soft decline can be extremely useful, the decline you need to watch out for is the hard decline. A hard decline is where they kick the file out of equator and you need to initiate it again to be placed back in. If this happens the transaction has to be worked all over from the beginning.
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