Short Sales: Questions to ask before hiring a short sale agent

By
Real Estate Agent with RE/MAX Action
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 sale lenders. Question #3: What can you tell me about my lender and how they work? A knowledgeable and experienced agent will usually know the specifics about your lender. They will be able to tell you what to expect in the process. They will know upfront if the lender is likely to ask for a promissory note or deficiency. Question #4: What is your track record for success and failure on short sales you have handled in the past? Look at the agent’s track record. If they are hard working and diligent, then they will have a strong track record. That is good news for you. Thinking about a short sale? I can help you short sale your property and get back on your feet. Send me an e-mail at dtoomey@remax.net. I will contact you for a free consultation. When we talk, I will explain how the process works in detail and answer any questions you may have. Or, if you prefer, you can call me at (847) 338-0180 Discover how other sellers successfully completed a short sale and request a free consultation by clicking here. Thinking about a loan modification? Our loan modification kit has the instructions you will need to get a loan modification approved with your bank. Click here to request a copy. Thanks for reading this, Dennis Toomey. Dennis is a Real Estate Broker at RE/MAX Action. Short Sales Realtor: Phone: (847) 338-0180. dtoomey@remax.net. For Real Estate that's hassle free, just pick up the phone and leave it TOoMEy! View My homes for sale at www.HouseByZip.com. Dennis Toomey specializes in loan modification assistance and short sales in Elgin Illinois. Elgin Loan Modification Help, Elgin Short Sales. Elgin Short Sale Realtor IL Short Sales. Realtor. Copyright 2011 SFI Marketing Institute, LLC. All Rights Reserved. Important Notice Dennis Toomey, RE/MAX Action, and the Stop Foreclosure Institute are not affiliated in any way, shape, or form with the government. Our services have not been reviewed or endorse by the government or your lender. Most lenders willingly work with agents on short sales. Why? Because most short sales are beneficial to a lender. If you accept our offer to help you on a short sale, your lender may not agree to a short sale or to modify your loan. We do offer a loan modification kit. However, the likelihood of negotiating a modification is like everything else in life. It takes work and persistence to convince your lender to modify your loan. No matter what you or we do, your lender may not approve a loan modification. We do not recommend that you stop paying your mortgage, because this will cause damage to your credit and could cause you to lose your home. Because we know avoiding foreclosure is so important to any homeowner, we recommend that you speak with the appropriate legal or tax advisor before making any decision. This is not intended as legal, technical, or tax advice. Please speak with a licensed professional before making any decision. Information is deemed reliable but not guaranteed as of the date of writing. You have the option to reject a short sale or loan modification from your lender if it does not meet your approval. If you decide not to go thru with the short sale, then you do not have to pay us our fee. We normally make a real estate sales commission for helping you on a short sale. The views expressed here are Dennis's personal views and do not reflect the views of RE/MAX Action. This information on Short Sales: Questions to ask before hiring a short sale agent is provided as a courtesy to our viewers to help them make informed decisions.
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