Real Estate Sellers net

By
Real Estate Agent with Keller Williams Realty

The sellers of real estate seem to be fixed on their net as a finial decision. In todays market it is important to do the initial sellers net sheet and follow up. Even though the listing agreement may address keeping up the mortgage they may not be willing to share this information. Real estate loans are in record default and loan companies are not making it easy and many cases difficult to resolve issues. As ARM's kick and home owners are facing ever increasing problems in making their mortgages there will be the desperate attempts to believe there is a magic bullet with Realtors. Having additional paper may not help as the clients seem to bury their head in the sand. We should keep our heads up and be aware of signs before there is a problem. Even going to shorter listing times may be a solution. Getting the payoff from the lender is a good first step.

Remember www.RealEstateWorkHorse.com/ for advise on credit and morgage issues.

Real Estate WorkHorse Website

Posted by

Bonner Thomason

Comments (2)

Pam Graham
All Real Estate Options - Jacksonville, FL
Jacksonville, Clay & St Johns Counties
We have new listing agreements that the sellers have to check off one of three choices...1-that they have enough equity in the home to close based on the initial list price, 2-they don't have enough equity but they have the funds to bring to closing to cover the difference and 3- they don't have enough equity or the funds so we have to disclose it's a short sale. However they could lie, so it would be wise to get a payoff....which will be easy because the new listing agreement states that we have permission to speak to their lender, so we could request a pay off.
Nov 13, 2007 09:22 AM
Bonner Thomason
Keller Williams Realty - Kernersville, NC
CRS, ABR, GRI, e-Pro

Thanks Pam, I may use this and present it to our office as another form.

Bonner

Nov 13, 2007 10:24 AM