How to short sale

How to short sale

How to short sale your home. While a Short Sale is and excellent option for home owners that want to avoid foreclosure, it is by no means a “short” process nor is it something that can be done by yourself. You must enlist the expertise of a short sale listing agent.

Why is that? The lender who holds the loan on the property will require that you list with a Realtor or the short sale will not be processed. Lenders do not will allow sellers to represent themselves in a short sale, the liability is way too high. A short sale real estate agent will know how to short sale your home. They will have the required disclosures and the cutting edge marketing tools available to market your home and bring a buyer that is willing to wait out the short sale process. The short sale listing agent will also have the know how to deal with bank asset managers, and other players that will eventually become involved in the short sale transaction.

**Avoid companies that say they know how to short sale and require you give any amount of money to start the short sale process or begin negotiation with your lender. This is NOT necessary to secure representation. Just don’t do it!

So now that you know it’s not You who needs to know how to short sale, here’s what you DO need to know.

Before considering a short sale you must first determine if you qualify for A Short Sale by asking yourself Do I pass the Hard Ship Test?

Here are just a few examples of Hardship.

• Loss of Job

• Becoming disabled

• Divorce

• Death of a spouse

By the way, a good short sale agent will walk you through the hardship means test so don’t worry if any of this seems overwhelming.

If you believe you pass the Hardship Test, it is most likely time to proceed with the Process of a short Sale.

It is now time to contact a short sale listing agent who will quickly be able to confirm if indeed you qualify for a Short Sale.

Once that is established, your short sale Realtor will know how to short sale your home and begin the Listing Process and guide you through the following steps:

• Put your Hardship Letter together

• With your permission to contact your lender, your short sale listing agent will negotiate on your behalf and determine what you owe to date.

• After they determine the market value, they will set a listing price and your home will be listed and Marketed on the MLS.

• Once Offer is received and you have approved the offer, your short sale listing agent will negotiate with your lender for their approval of the short sale.

• Once Short Sale is approved by lender, the escrow process begins.

• After all parties meet their obligations escrow is closed and the short sale is successfully closed.

• You may now start rebuilding your life and credit!

More questions or need a short sale listing agent that knows how to short sale your home? Give us a call at 877-636-0444 or follow this link and visit us here. If we can’t help you in your area we will help you find a good short sale Realtor in your area that can!

Copyright © 2011 By Stephen Munson & Luis Montejano, Munson Realty-Southern California Real Estate *How to short sale-How to short sale, short sale, short sale listing agent,short sale realtor,short sale process*