My Realtor hasn't talked to me about a Short Sale & I'm not even getting a showing. I think I might be upside down. What do I do?
San Diego North Valley - Oak Tree Realty Group recently received a question from Robin. She is having a hard time selling her home. “I have had my house for sale for a little while, but it hasn’t sold. No buyers have come to look at it.
At first I thought the price was fair. But, now that no one has come to see the home, I am beginning to realize that I am upside down. My Realtor hasn’t talked to me about a short sale. What should I do?” Jennifer asked.
Discover how other sellers successfully did a short sale to avoid foreclosure by clicking here.
Here is what I would recommend to her. First, talk to your current agent about a short sale. The might be uncomfortable with bringing it up. Short sales are a sensitive issue. Some people get offended when you ask them about a short sale.
It doesn’t look like that is the case with you. Ask your agent that you think you might be upside down. Ask them what they think they can realistically sell the house for in today’s market. Then, ask them for a “Net Sheet.” This is a report that details all of the costs and fees associated with selling your home.
The fees and costs are subtracted from the sales price to give you the net amount you will receive from the sale.Compare that number with your mortgage payoff. If it is less than what you owe your lender, then you will need to consider a short sale.
Ask your agent if they can handle your short sale. If not, then they may need to team up with someone else at their Office.Who has Short Sale training to help them with your Short Sale. Short sales are a lot more complex than a normal real estate transaction.
Make sure the person you interview has closed short sales in the past and knows what they are doing. Ask them how the short sale process works.
Have them explain it to you. This will help you determine if that person can do the job for you.
Thinking about a short sale? I can help you short sale your property and never pay the bank another penny. Send me an e-mail at durrell@oaktreerg.com.
I will contact you for a free consultation. When we talk, I will explain how the process works in detail. If you prefer, then you can call me at 760-576-HELP (4357). Discover how other sellers successfully completed a short sale and request a free consultation by clicking here.
Thinking about a loan modification?Our San Diego North Valley Loan Modification Kit has the instructions you will need to get a loan modification approved with your lender. Click here to request a copy.
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