Home Selling in 30034>Question Details

alirek01, Home Owner in 30034

I already have a buyer interested in purchasing my property through a short sale. Is it necessary to have a realtor?

Asked by alirek01, 30034 Mon Nov 26, 2012

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It is required by most lenders, they will not deal directly with unrepresented sellers. I work with Windward Law and do this exact thing, they are exceptionally efficient at getting these completed.

I'm an appraiser as well, every deal we've had has required me to put my appraiser hat on and get idiotic agent BPOs in line. The lender is going to do their own evaluation of the property, if they feel you are selling below market they will kill the deal - and agents will inflate BPOs to try and get business from banks.

Trust me - there's more to this nonsense than meets the eye - which is really unfortunate for folks just trying to do the right thing. Drop me an email if you'd like more info.
Web Reference: http://www.hmtatlanta.com
2 votes Thank Flag Link Tue Nov 27, 2012
Only if you want it to close.
1 vote Thank Flag Link Tue Nov 27, 2012
It may not be. Short sales can be very complicated, so you want an experieced professional working for you. If you're working with a good attorney with experience handling short sales, you probably don't need a Realtor.
0 votes Thank Flag Link Wed Dec 5, 2012
A realtor is able to communicate to ensure you receive the best possible offer and any money that the bank is willing to offer you to do a short sell. Also the bank in most cases require you to have an realtor. All services provided by a realtor including marketing, writing contracts, getting money for the seller, and requiring a forgiveness from the bank for money owed on the house all this is FREE. Please feel free to email micah.fouskey@metrobrokers.com or call 678-570-9762
0 votes Thank Flag Link Tue Nov 27, 2012
A short sale without a Realtor? Short Sales are slow and complicated, the banks have certain requriements for closing short sales and one of those is that there is professional representation.You might be able to do it with a lawyer, but you certainly will not save any money going that route.
0 votes Thank Flag Link Tue Nov 27, 2012
Ali, get a Realtor, so they can advise you on the legal issues involved. For example, you can't sell to a family member.
0 votes Thank Flag Link Tue Nov 27, 2012
I would hire Jason Wieloch and his powerhouse co-listing agent.

Rodney is 100% right.

Alirek01 - fools rush in where wise men never go...
Web Reference: Http://intowninsider.com
0 votes Thank Flag Link Mon Nov 26, 2012
Without having an agent, your current lender might not approve your short sale. They are likely to view your sale as a non-arms length transaction. Typcially on a short sale, the buyer can seller can have no previous relationship. There is a lot of fraud and misrepresentation with short sales, so mortgage companies will do a very complete review before giving an approval.

Having an experienced short sale agent is very critical to make a difficult process as eas as possible.

Regards,
Rodney Mason, NMLS #151088
Sr Loan Officer
Prospect Mortgage
825 Juniper St NE, Atlanta, GA 30308
Office: (404) 591-2453
rodney.mason@prospectmtg.com
Apply Online at http://www.rodneymason.com
Licensed in Alabama & Georgia

Prospect Mortgage offers a full selection of mortgage programs including:
Conventional | FHA | FHA 580-639 FICO | FHA 203K Renovation (Streamline & Consultant) | HomePath® | HomePath® Renovation | HomeStyle® Renovation | VA | USDA | GA Dream | Jumbo Financing
0 votes Thank Flag Link Mon Nov 26, 2012
I would absolutely recommend using an experienced short-sale Realtor to get it done. It can be a grueling process, and you want someone experienced to negotiate with the bank. It won't cost you anything more, but it will make it more likely that it will happen.
0 votes Thank Flag Link Mon Nov 26, 2012
Is it necessary? No. Is it a good idea? Yes. The bank will pay your agent's commission. Also, here at Keller Williams, we have an in house attorney service that will handle the bank negotiation at zero charge to you. Basically, I could do this for you at no charge and it's much more likely to happen in that event since we do them all the time.
0 votes Thank Flag Link Mon Nov 26, 2012
My number is 404-518-1368 if you want a free consultation. Short sales are tricky, so don't do it alone.
Flag Mon Nov 26, 2012
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