Questions Buyers Should Ask the Agent Listing in a Short
Sale
Are you looking to buy a short sale? Before you make an offer, you need to check and see how competent the listing agent is at short sales.
The listing agent is the agent with the property for sale. They will usually be in charge of processing the short sale with the lender.
Email beth@txhomerealty.com to discover how other sellers successfully did a short sale and avoided foreclosure.
If the listing agent is a genuine short sale expert and knows what they are doing, then you have a very good chance of the short sale being approved and buying the home. I’ll show you how to separate the experts from the pretenders in this post.
If the agent is not a genuine short sale expert, then you are probably wasting your time. You should go find another home to buy.
First, ask them how many short sales they have successfully sold. If they have only sold 2-3 short sales, then the odds are not in your favor. You risk wasting months of time waiting for an answer on the short sale.
Next, ask them how many loans are on the property. If there is only 1 loan, then you know two things. First, they know what they are doing. Second, this is relatively simple short sale.
If there are two loans, then the property is still worth considering. However, if there are 3 or more loans, then you might want to look at another home. Short sales with 3 or more loans are very difficult.
The first mortgage won’t give enough money to the second and third position mortgages. The second and third position mortgages won’t release their lien without more money. At the end, everyone loses (that is another story for another day.)
Lastly, ask who the lenders are If the lenders are Bank of America, or another notoriously bad lender at short sales, then you might want to avoid the property. However, a competent short sale agent can handle a Bank of America short sale with ease.
Thinking about a short sale? I can help you short sale your property and get back on your feet. Send me an e-mail at philli@txhomerealty.com. I will contact you for a free consultation.
When we talk, I will explain how the process works in detail and answer any questions you may have. Or, if you prefer, you can call me at (469) 523-1402.
Discover how other sellers successfully completed a short sale in Duncanville, Dallas, Mesquite, Rowlett and request a free consultation by emailing beth@txhomerealty.com.
Thinking about a loan modification? Our Dallas loan modification kit has the instructions you will need to get a loan modification approved with your bank. Email phillis@txhomerealty.com to request a copy.
Thanks for reading this, Phillis Nealy.
Phillis is a Real Estate Agent at The Texas Group.
Phone: (214) 650-5536.
A Realty company with Service as Big as Texas
View My homes for sale at www.southwestdallashomes.com.
Are you looking to buy a short sale? Before you make an offer, you need to check and see how competent the listing agent is at short sales.
The listing agent is the agent with the property for sale. They will usually be in charge of processing the short sale with the lender.
Email beth@txhomerealty.com to discover how other sellers successfully did a short sale and avoided foreclosure.
If the listing agent is a genuine short sale expert and knows what they are doing, then you have a very good chance of the short sale being approved and buying the home. I’ll show you how to separate the experts from the pretenders in this post.
If the agent is not a genuine short sale expert, then you are probably wasting your time. You should go find another home to buy.
First, ask them how many short sales they have successfully sold. If they have only sold 2-3 short sales, then the odds are not in your favor. You risk wasting months of time waiting for an answer on the short sale.
Next, ask them how many loans are on the property. If there is only 1 loan, then you know two things. First, they know what they are doing. Second, this is relatively simple short sale.
If there are two loans, then the property is still worth considering. However, if there are 3 or more loans, then you might want to look at another home. Short sales with 3 or more loans are very difficult.
The first mortgage won’t give enough money to the second and third position mortgages. The second and third position mortgages won’t release their lien without more money. At the end, everyone loses (that is another story for another day.)
Lastly, ask who the lenders are If the lenders are Bank of America, or another notoriously bad lender at short sales, then you might want to avoid the property. However, a competent short sale agent can handle a Bank of America short sale with ease.
Thinking about a short sale? I can help you short sale your property and get back on your feet. Send me an e-mail at philli@txhomerealty.com. I will contact you for a free consultation.
When we talk, I will explain how the process works in detail and answer any questions you may have. Or, if you prefer, you can call me at (469) 523-1402.
Discover how other sellers successfully completed a short sale in Duncanville, Dallas, Mesquite, Rowlett and request a free consultation by emailing beth@txhomerealty.com.
Thinking about a loan modification? Our Dallas loan modification kit has the instructions you will need to get a loan modification approved with your bank. Email phillis@txhomerealty.com to request a copy.
Thanks for reading this, Phillis Nealy.
Phillis is a Real Estate Agent at The Texas Group.
Phone: (214) 650-5536.
A Realty company with Service as Big as Texas
View My homes for sale at www.southwestdallashomes.com.
Important Notice
Phillis Nealy and the Texas Group Realtors are not affiliated in any way, shape, or form with the government.
This is not intended as legal, technical, or tax advice. Please speak with a licensed professional before making any decision. Information is deemed reliable but not guaranteed as of the date of writing.
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