Questions To Ask When Selecting A Short Sale Specialist
It is important to take some time and do your research when choosing a short sale specialist. Short sales can be complicated, and you want someone who knows what he is doing. Asking the following questions can help you find an agent you can depend on.
- How many years of short sale experience do you have? Obviously, the more experience an agent has, the better. Select someone who has been handling short sales for at least three years. This ensures that the specialist knows what she is doing and can help you successfully navigate through the process.
- How many homes have you sold via short sale? An agent who has sold hundreds of homes via short sale is probably well versed on the variety of sale packages that different banks offer. They are also able to help you streamline the entire process.
- Do you have a history of working with my bank? If your agent has worked with your bank before, he already knows what they require and can simplify the process.
- Will you negotiate the terms of my short sale? If you expect your agent to handle the negotiation, make sure that she will not outsource the responsibility to a third-party. Your agent may advise you to hire a lawyer for the negotiation, but if you do not want to pay the separate fee, ask your agent if she has experience doing it.
- Do you see any problems that may affect my short sale? Although your agent cannot give you legal or tax advice, he can give you some good pointers and warn you about any possible problems that you may experience.
- How long will the short sale take? The answer to this question will vary depending on your bank, but an agent who has experience working with your bank will be able to give you a good estimate of the timeframe to expect.
Ask these six questions when you are looking for a short sale specialist to find an agent you can trust.