Loudoun County Short Sales can be a tricky topic. It is important to educate your buyers and sellers when buying a short sale in Loudoun County to avoid a lot of wasted time and headache.
It's true - purchasing a short sale can result in a buyer getting a property at a discounted price. However, when buying a short sale in Loudoun County, or any area, it is important to go through the listing agent interview process to make sure you are getting your buyers into a "realistic" situation.
- Do you have an offers on the property?
- Have the offers, or any offers before, been executed and submitted to the lender?
- Will you only be submitting ONE offer to the lender?
- What is the seller's hardship?
- Is the seller insolvent?
- Have you reviewed the seller's financials?
- In what stage of foreclosure is the seller/property?
- Who is/are the lenders?
- Have you verified the parties on the mortgage and the deed?
- Are you a certified distressed property expert?
Now, you may not get a response to all these questions and that is fine. The end result is that the listing agent knows you know what you're doing, you can find out strength of seller commitment to your client only and helps determine if how long the short sale will take and likelihood of it ever going to closing.
If you need help buying or selling a home in Loudoun County, contact me today!
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