Hello neighbors,

Despite what some may think, deciding to do a short sale on your distressed home is not such a bad idea. However, when deciding on a short sale, it's imperative for the home owner to understand the short sale process. In addition, it is also important for the agent handling your short sale to fully understand the process. The following are common mistakes prevalent among both agents and homeowners during a short sale.

1: Your Property Is Priced Incorrectly

     One of the most common mistakes during the short sale process which

     leads to a property not selling.

     Solution: Agent Providing Understanding and Transparency

     A detailed pricing list strategy will be explained to you by your agent

     which will show you the precise price your home should be listed as

     based on its current condition, your local area sales, and how much time

     you have to sell your home.

2: Your Short Sale Proposal Is Incomplete

     Due to most agents who are not certified distressed property experts not

     fully knowing the short sale process and exactly what the lender is look

     for, this is one of the most common cause of a short sale proposal being

     being rejected.

     Solution: Understand Every Aspect of the Short Sale Process

     The agent you are working with should have a detailed understanding of

     the short sale process and should be able to give you a full explanation.

     In addition, the agent should have the ability to easily communicate with

     you and other lenders and produce a strong and completed proposal.

3:  There Has Been Inadequate Follow - Up And Communication

     Your short sale can easily be jeopardized if your agent doesn't

     adequately communicate with all parties involved in the process.

      In some instances, you may not be aware of your file being

     delayed and that you may run out of time.

 

      Thinking about a short sale and need more information? Contact us,

       the zac team RE/MAX Greater Atlanta.