There is every reason why you should consider picking the most experienced short sale real estate agent when it comes to buying or selling property. Picking the unskillful short sale realtor can be lead you to forfeit a reasonable sum of money your creditor was willing to offer since your realtor working on your behalf did not negotiate well.
Moreover, short sale processes entails a lot of paperwork and making a mistake or missing out in any of them may delay the whole process for months.
Unlike the standard real estate transaction where two principals, the buyer, and the seller, are involved, the short sales involve three principals; the creditor, the buyer and the seller of the property. That is the exact reason why short sales procedure are a bit complicated than the routine real estate.
So, hiring an experienced short sale agent to negotiate on your behalf is vital. Here are tips that will help you avoid making horrible mistakes when picking your short sale realtor.
One of the primary qualities that you need to find out from a short sale agent you are interviewing is their experience that they have gained from the real estate industry. Your potential agent needs to have worked in the industry for more than ten years to gain substantive expertise about the sector’s dynamics. If the realtor is still thriving on these assignments, then you need to gauge his ability to deal with the short sale transaction. The short sale realtor needs to have completed at least five short sale transactions without an issue.
You also need to avoid hiring a part-time realtor. It is essential that you select someone that you can work with efficiently. From time to time, you might feel that your realtor should be able to sell your property without having to install an advert sign near your home. You need to keep off the sympathy of economic turmoil from your neighbors.
You need to pick a short sale agent that has appealing character and is happy to sacrifices whatever is within his means for you. You will be working with this realtor for some time. You will need to enjoy the whole experience.
You also have to ask for a guarantee from your realtor. A good short sale realtor should pay you off the amount that you need just in case he was not able to agree on terms of payment with the lender.
You need to look for a short sale agent that will be happy to help you find a place for you and your family. Your credit must be down due to your financial hardships. Your short sale record will not alleviate your economic quagmire. Thus, you will not qualify for a rental property. Therefore, you want a short sale agent that will also negotiate on your behalf when it comes to finding a place where you can put up in the meantime.
You will also have to hire someone who knows about loan modification as well.