Thinking About A Short Sale? Here Are Common Mistakes Among Agents and Homeowners During the Process
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,
