When you’re navigating financial hardship, pursuing a short sale of your home can be a beacon of hope. From getting approval from your lender to finally finding a buyer, the entire process can come with an astounding relief of your burden. However, in order for you to get to that point, it’s vital that you have a qualified short sale agent to help you find the best deal. Here are some important questions to ask before hiring a short sale professional, so that you know you’re working with the right team.
What’s Your Experience With Short Sales?
One of the first things to inquire about is an agent’s amount of experience with short sales. Short sales are more specialized areas in the real estate field, and not everyone knows how the process works. Because of this, it’s critical that you have someone who knows what they’re doing and how to navigate the intricacies of approval and selling. Finding a short sale professional with at least three years of selling experience and several short sales under their belt is your best chance at getting the deal you need and deserve.
What Lenders Have You Worked With?
It’s also important to ask your potential short sale agent about the different lenders they’ve worked with. Getting approved for your short sale can look slightly different depending on the bank responsible for your mortgage. As such, you’ll want to know whether your professional has dealt with your specific bank before. This way, you can feel more confident about the approval process, and you’ll be less likely to run into roadblocks along the way.
How Long Does a Short Sale Typically Take?
Make sure you ask about the average time line of an agent’s short sale process as well. It’s only natural that you’d want your home to sell as quickly as possible in this situation. However, the short sale process can take several months to fully complete. So while you want someone who will get started on it right away, you also don’t want to trust someone who promises a quick turnaround. Asking this question ensures that your and your agent’s expectations match.
Whether you’re wondering what it means to short sell a house or looking for the right professional to arrange your listing, Short Sale Cooperative can help. Our experts have participated in hundreds of short sales through the years, and they know how to best navigate the process in the most trying of financial times. Contact us today to learn more.