Whether you are a homeowner or a buyer wanting to purchase a particular home in the Indianapolis area, the sale or purchase of a short sale property is a time consuming, complicated, and challenging process for your agents. However, the rewards far outweigh the challenges. For the listing agent, helping the homeowners resolve a financial issue and get out from under the mortgage with integrity, reserving their credit worthiness for the future, is quite a rewarding experience. For the buyer agent, helping a home buyer purchase a home with built-in equity after the recent collapse of home values is very satisfying.
Starting the process
Once a homeowner contacts the agent to sell the home, the agent will review with the homeowners the various alternatives to foreclosure. That is required by law for them to do.
Next, the agent will review with the homeowners the listing contract and provide various disclosures, which they will need to sign if they agree to proceed.
When all of the forms are complete, the disclosures are signed, and all of the required documents are collected, the agent will then prepare the case and list the property for sale. The agent uses a price reduction strategy to find buyers.
Our next blog will focus on what to offer for a short sale property.
For more information on short sales, contact Kammeyer Realty Group at 317-570-3800 or visit us at www.KammeyerRealtyGroup.com.
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