Real estate blog entries tagged with how short sales work by Cape Coral Real Estate Broker | Susan Milner | FloridaFutureAgents.com (Florida Future Realty, Inc.)

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Home : Blogs : Cape Coral Real Estate Broker | Susan Milner | FloridaFutureAgents.com : Cape Coral Real Estate | Cape Coral Homes : Tag "how short sales work"

how short sales work: Short Sales and How I Think They Should Be Handled Part 1 of 4 - 06/26/08 01:29 PM

First of all I do not believe that any real estate agent should list a home as a short sale without having done some research first.

Research

You should have a preliminary title search done to determine if there is a second mortgage or any other liens on the property. Determine who the owner(s) are.

Document Collection

Next, you should collect all of the necessary paperwork that the lender will require for their short sale package. (Some banks require less/more documentation but this is a very ‘standard’ list)

Obviously … (8 comments)

how short sales work: Short Sales and How I Think They Should Be Handled Part 2 of 4 - 06/26/08 01:28 PM

Listing Activities at property

· Take multiple photos of the property – the good and the bad. Obviously use the prettiest photos for your marketing material but disclose any known defects. The bad photos are good to show the seller’s lender.

· Put an electronic lockbox on the front door or hidden if seller/tenant prefers. Agents that have to pick up a key or schedule to meet an owner/tenant/agent are WAY less likely to show that home. Especially in this current buyer’s market. There are too many other choices available. Check out my previous blog about tenant … (0 comments)

how short sales work: Short Sales and How I Think They Should Be Handled Part 3 of 4 - 06/26/08 01:27 PM

Yay, Showings and Offers!

You get showings, and now an offer comes in. GREAT! How do I think offers on short sales should be handled? Like any other sale.

Present all in a timely manner. Encourage your seller to make a decision asap. If they like the offer, have them sign the contract. We require all contracts to be on the Far/Bar As-Is contract along with the Short Sale Addendum. We also require a bank letter of funds available or a pre-approval letter and a copy of the buyer’s escrow check.

What’s next? First of all, … (5 comments)

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Cape Coral Real Estate Broker | Susan Milner | FloridaFutureAgents.com

Cape Coral, FL

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Florida Future Realty, Inc.

Address: 2816 Del Prado Blvd. S, Unit 1, Cape Coral, FL, 33904

Office Phone: (239) 542-8521

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Cape Coral real estate

Licensed Real Esate Broker, Susan Milner shares her knowledge & opinions on real estate. Having lived in Cape Coral for the past 17 years she puts emphasis on that area. Susan holds GRI, CDPE, SFR & e-PRO designations & is a proud member of the National Association of REALTORS.

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