Home Selling in Lehigh Acres>Question Details

Tammy L. Chu…, Both Buyer and Seller in Fort Myers, FL

How do I go about finding a successful realtor that is truly experienced to sell my home through short sale in Lehigh Acres, Florida??

Asked by Tammy L. Church, Fort Myers, FL Thu Dec 3, 2009

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It’s a good question. How do you know who is experienced with the short sale process and who is not? First of all, ask a lot of questions. This should give you an idea of how knowledgeable he/she is about the process in general. Some questions to ask would be: "Explain to me the short sale process." "What percentage of your business in the past year had been short sale listings?" "What percentage of these closed?" Be wary of too-good-to-be-true results. The fact is, each bank is different and some are darn right difficult to work with. Second, each situation and hardship is different. Not every seller will qualify for a short sale. Also, the Realtor should be asking you several questions as well. A Realtor who is experienced with short sales will qualify you and your situation to see if it will be beneficial in taking the listing. Remember, not everyone will qualify for a short sale. A good agent will be honest with you about what to expect and not paint too rosy of a picture.

First, the home is listed and marketed. The process doesn’t realty start until there is an offer because many banks will not start to work on the file until an offer is obtained (some will though). Financial documents, such as a hardship letter, pay stubs, W2s, tax returns, bank statements, etc. are sent to the lender. Lenders have thousands of short sale files to work on at any particular time. Here the “squeaky wheel” really does get the grease. If your agent is not following up regularly with the lender, your file may be overlooked. Also, these overworked loss mitigation departments, are notorious about losing items that are sent to them. Every page of every document must each have the loan number on it; even then within the constant correspondence it may be necessary to re-sent items that are lost. The lender will have a third party give a determination of value of the property to make sure the offer is close to market value. The total short sale process can be as quick as a couple of months or as long as a year, but the average is about 3-5 months.

I can’t go into every nuance of the process here so if you would like more specific information about any part of the process, please feel free to contact me.

David Lang
Keller Williams Realty
Dave@Kimberlylang.net
239-949-8338
239-677-8780 cell
http://www.SWFloridaHomeSearch.com
1 vote Thank Flag Link Thu Dec 3, 2009
Hi Tammy,
Nice name : '). I think that best thing to do is talk to a few Realtors and ask them about some of their experiences with short sales and how many they have closed in the last 12 months. Also another question to ask is whether they negotiate the deal themselves or if they are using a 3rd party.

We have a realtor in our office that worked for an attorneys office doing nothing but negotiating short sales. She is very good at it and we give all our short sales to her to negotiate.

If you want more information on that, please don't hesitate let us know. We would be happy to answer any more questions.

Have a great day,
Tammy Rodriguez
Owner/Broker
AAA Realty LLC
tammyjrodriguez@gmail.com
Web Reference: http://www.aaarealtyll.com
0 votes Thank Flag Link Tue Jan 19, 2010
Its really not that hard, All you have to do is list the home for what the comparables are selling for. Offer 97% financing problem credit ok, your phone will start ringing off the hook. Once you go into contract with the buyer have the buyer make the check out to a local title company to hold in escrow and send your offer to the bank representative and contact them every other day until you get an approval or not.
0 votes Thank Flag Link Thu Dec 3, 2009
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