short sale short sale short sale

the owner of the property negotiates with the bank, not the realtor.

a short sale MAY be authorized IF the owner of the property can prove that they are financially incapable of meeting their financial needs, and that the mortgaged property is upside down

Any compitent realtor can list your home AFTER the ower has completed a short sale packet from the bank.

beware of the so called short sale experts!

Hello Carolynn,

I agree that you will need to interview at least 3 agents for this job in order to find the most experienced, as well as one that you feel comfortable communicating with.

In the past year 25% of my transactions/listings involved short sales. In 67% of those cases I was assisting the sellers on the short sale of their property and working with their lenders' Loss Mitigation departments in order to get the transaction closed!

If you choose to sale your home, I would be glad to assist you. However, I do want to advise you that if we do complete a short sale in some cases this could negatively affect your credit for 2 years.

Feel free to contact me if you have any questions.

Sincerely,

Amanda P. Herring
Realtor-Broker, ABR
(210) 771-8608 http://www.AmandaHerring.com

Carolynn,

I am sorry that you are going through this. It is a rough time but it will pass and you are not alone.

I have 27 years of experience and several dozen "short sales" under my belt. I delt with these in the late 80's and in the recent market. I know how to market and price the home, how to package the offer, which buttons to push and when to push them. I have the staff, bench depth, expericence and patience to get it done and get you out in one piece.

I apprecite the opportunity to earn your business.

Dayton Schrader
Broker Associate
RE/MAX Associates
CCIM, CRS, CRP, CRB, CLHMS, CDPE, ABRM

Carolyn,

Some things to look for (in my opinion) include how the agent will market your home and your personal comfort level with the agent. Marketing of any home is important and unfortunately I see all too many short sale and foreclosed homes being marketed in what I consider to be a subpar manner. You want to be sure you're still getting full service from the agent. The other key is comfort. Talk to the agent. Do you feel as if you can partner with them during this difficult time? Do you feel like you can speak openly and honestly with them? This is very important for you during the process. Many agents will tell you experience is the keystone, but at the end of the day a lot of it comes down to quality communication between you, the agent, and the bank. Without out that all the sales figures in the world won't matter much.

Hope that helps!

Matt Stigliano, Realtor (r)
RE/MAX Access
(210) 646-HOME
http://www.RErockstar.com
"Your all access pass to San Antonio real estate."

Cindy has given you some good information, also be aware that our market doesn't have the influx of short sales compared to some other areas of the US. Have you already been approved by your bank to list as a short sale? Find out if your lender has a relationship with a particular lender for this and if it's required to be listed by them. Ask your lender if you have the option to pick your agent. Also you may want to check with your lenders if their are any "other options" if you truly don't want to lose your home, they may be able to work with you by readjusting your loan. Hope this helps, and I wish you well.

Interview at least three Realtors...find them by searching short sale listings. When you interview them, ask how many short sales they have closed in the last three months...then in the last year. Ask for references for all of them.

Ask their methods to get short sales marketed, approved, and sold. Ask for proof. Ask detailed questions about short sales and see hoe the gent response. Is the response immediate? Do they hesitate? Do the need to get back to you.

More info below. I'm not in Texas but feel free to contact me if I can guide you in any way.