A Short Sale Tutorial, Part VII - A Realtors Perspective
When should we begin working on the Short Sale together?
Ideally we would like to begin working on your Short Sale as soon as you recognize that you are unable to keep up with your payments and will be falling 30+ days behind. The important thing for you to know and keep in mind is that the sooner we begin working with you on the Short Sale process, the more you increase your chance of a successful closing. Don’t wait any longer, act today!
What if I don’t have money to pay the Realtor commissions?
In a Short Sale transaction you, as the seller, do not have to pay the Realtor commissions or any of the closing costs; the bank covers all of these costs. The banks will also pay for any unpaid Homeowner’s Association fees or unpaid taxes on the home.
How do I select the right team to successfully manage and negotiate my Short Sale?
Before hiring just any ‘Agent’ to assist you in a Short Sale, make sure they are qualified and understand all the work that is required to see you through to the end. A properly trained Short Sale Agent knows how to qualify you for a Short Sale transaction and therefore has a very high success rate. Most Realtors®, Investors and Real Estate Agents do not understand how to qualify you and your lender for a Short Sale transaction. This is one of the reasons they often have such low success rates when it comes to closing a Short Sale. Investors have around a 10% success rate. Most agents don’t do much better.
Those Callaways have a much higher success rate and believe that if a deal is possible (and not all are) then we will get the job done.
To see our latest Short Sale properties, click here: http://www.thosecallaways.com/Visitor/short_sales.php