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It’s Not Just About the Listing Anymore: Existing Mortgage & Lien Checklist

By
Mortgage and Lending with Arbor Financial NMLS#222444 DRE#01231515

 

Selling a home is not just about marketing and advertising. It’s not just about staging. And, it’s not just about asking about existing mortgages and liens.

Here’s a short checklist that I created to help you ask some additional questions so you know what you are dealing with when it comes time to negotiate a contract and close the sale.

  • What’s the balance due on ALL existing mortgages?
  • Do you have an escrow account?
  • Are you behind on your mortgage payments?
  • Whose name is on the title to the property?
  • If owned by a corporation, an LLC, trust, partnership, etc., provide proof that you have the authority to sign the paperwork
  • If the title has been changed due to marriage, death or divorce, provide documentation.
  • Are there any other liens against the property?
  • Are there any judgments that have been filed against you?

You probably already do this, but I suggest that you obtain a preliminary title right after you have the signed listing contact. It’s best to handle the problems up front so they can be corrected as soon as possible.

What other items would you add to this list?

 

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JAYNE COMBS
Sr. Mortgage Loan Officer
NMLS# 222444

jcombs@parksidelending.com

https://parksidelending.mortgage/ca-napa/jcombs/

(661) 965-0088 Cell

(925) 326-7880 Office
 

Impossible is just a reason for someone not to try.......

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