Short Sales and REALTORS

Not that long ago, the words SHORT SALES were something as a Realtor you heard every day.  With the housing market on the rebound, those words SHORT SALES are not as common as a year ago, but they are still out there and some people are still upside down on their mortgages and wonder what to do. 

A realtor can help you to sell your home on a SHORT SALE, but one thing to remember when looking for a REALTOR® to sell your home as a short sale; they will be dealing with many legal situation and therefore it is almost like you are hiring an attorney. 

 

                                                       

Short selling a home is a serious matter and one that should not be taking lightly.  Finding a REALTOR® that is experienced in SHORT SALES is the first and most important thing a seller will want to consider.  Looking at the perspective REALTORS track record with short sales is a must.   How many sales has the REALTOR successfully completed and in what amount of time.  The next thing you will want to look at is how well informed your potential realtor is in the area you need to sell your home.

Make sure you are comfortable with the agent you choose as you will be giving them access to a large amount of your private information including social security numbers, loan numbers and lenders.  Your REALTOR® should also know the steps in how to successfully start a short sale with your lender.

As in any important decision in life, there are questions you need to ask.  Here are a few you may want to ask the REALTOR® you are thing of working with:

  • How many active short sales are you currently working with now?
  •  What is your percentages to successful closed transactions with just short sales?

  • Can they produce past client testimonials and would these clients be willing to talk with you in person about their experience.

There is another avenue some REALTORS® may be able to offer a seller in need of a short sale situation.  Some REALTORS® have partnered up with attorneys that work SHORT SALES and know all the legal ins and outs that one will need to know in order to assure they are not pursued legally after the completion of the sale.

Dan Hennen

Dan Hennen

Executive Sales Associate
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