Regardless of the method of selling, you will want to close at a title company, as will the buyer. The title company will get the payoff from your lien holder and will pay the lien holder upon funding.... more
Everybody below is right... You need to get prequalified so you can effectively negotiate with any potential sellers, and the realtor you choose will have the confidence needed to effectively represent you.
I would offer a couple of tips in choosing your mortgage officer:
1. Talk to several different officers, with several different banks. You need to use someone you're comfortable with.
2. Make sure when you talk to them, that you can answer questions like your income, how much money you have to invest, and what your approximate credit rating is (I usually ask first time homebuyers what their credit rating would be on a scale from 1 to 10). Not only will this help the lending officer to evaluate your current situation, it will help them, and you, to find out which mortgage program is right for you.
3. Make a list of questions to ask prior to speaking with anyone and take notes when you do speak to them. It's easy for details to get fuzzy after you hang up the phone.
4. When making a decision, be sure and evaluate how responsive your candidates were in your first contact. Prompt attention will become invaluable as you go through this process.