You have choices when it comes to a short sale.

By
Real Estate Broker/Owner with Crossroads Real Estate LLC

For many a short sale is a last ditch effort to salvage their credit rating.  Since so much hinges on the outcome of a short sale, home owners need to make a wise, and informed decision.

One of these choices is, which Real Estate Broker is going to sell the home, and which Agent are they going to use to represent them.  Is the Agent marketing the home like it is their own?  Does the Agent market the best features of the home?  Are the number of pictures adequate to show these features, and of a high enough quality to attract interest from all potential Buyers?  Does the description peak Buyers interest, or does it leave unanswered questions?  Is the home owner satisfied with the effort and details of the marketing plan? 

These facts should be reviewed before signing a Listing Contract.  This contract should also contain the following contingency. 

Seller may cancel this Agreement prior to the ending date of the listing period without advance notice to the broker, and without payment of a commission or any other consideration, if the property is conveyed to the mortgage insurer or the mortgage holder.  Sale of the property is contingent on written agreement to all sale terms by the mortgage holder and the mortgage insurer (if applicable).
Http://www.hud.gov/offices/adm/hudclips/forms/files/90045.pdf

In many cases the Listing Contract will be valid until the property either sells, or is foreclosed.  It may be very difficult to void a Listing Contract and change Brokers.  You will have to consult an Attorney if you wish to alter, or terminate a Listing Contract without the consent of the Broker.  This is why homeowners facing a short sale must be very careful in choosing a Broker and Agent. 

Make certain everything is in writing.  If you feel a need to have a written marking plan before signing a Listing Contract, you have the right to make it part of the contract.  The contract is an agreement between you and the Listing Broker, it should be a comfortable arrangement for the two of you.

Posted by

Ez1 Realty cutting edge technology from New Home Construction to finding the old farm house...

I give customers and clients a service none of the national web sites will ever offer.  I will be with you from the day you List your home, or begin your search all the way to a successful closing.  Fulfilling all your Real Estate needs in Shebiygan, Fond du Lac, Milwaukee, Ozaukee  and Washington County areas with the highest degree of expertise and technology.  

  Ez1Realty.net   Ez1Realty Linkedin  Ez1Realty Youtube     American History Vote on Bills in front or Congress  My own Bookstore

 

Dennis Herman Realty Home Town Realty Home Town Realty,N3091 State Rd. 67 Campbellsport, WI 53010

Phone: 414-426-1784  Fax: 888-645-2580

close

This entry hasn't been re-blogged:

Re-Blogged By Re-Blogged At
Topic:
ActiveRain Community
Location:
Wisconsin Waukesha County Menomonee Falls
Tags:
agent
listing contract
real estate broker
you have choices when it comes to a short sale

Post a Comment
Spam prevention
Spam prevention
Post a Comment
Spam prevention

What's the reason you're reporting this blog entry?

Are you sure you want to report this blog entry as spam?

Rainmaker
223,095

Dennis Herman

Dennis Herman
Ask me a question
*
*
*
*
Spam prevention

Additional Information