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Short Sales: Questions to ask before hiring a short sale agent
IL – The right agent can make the difference between success and failure on your short sale. You risk losing a lot when your agent doesn’t understand short sales. The short sale can be denied and the home foreclosed. Then you have to wait five years to buy another house. Or, the lender may ask you to repay the loss. Click here to discover how other sellers successfully did a short sale and avoided foreclosure. Here are the questions I would ask an agent before hiring them. Question #1: How many short sales have you listed and sold in the past 6 months? This is important because you want an agent who is up to date on all the potential issues. They should understand the short sale process from start to finish. Question #2: In the past, what lenders have you negotiated short sales with? It is helpful when the agent you are interviewing has already done short sales with your lender. You know that they will already be familiar with your lender’s policies and procedures. At a minimum, you should look for an agent with experience with Bank of America, Wells Fargo, and Chase. These are the most common short ... more

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