Top 5 Tips to Make the Short Sale Process Proceed More Smoothly
I am currently working with a client who will not (does not) listen. He wants to short sell his property, but seems not to have heard anything I've told him about the short sale process. Needless to say, I am very frustrated. Is he ignoring me or is it that he doesn't understand what I am telling him?
Working with this client has compelled me to write a short post to help sellers navigate the short sale process. So here are a few tips that will make the process a little smoother for both you and your real estate agent.
1. Write a compelling hardship letter that explains your financial hardship. Be sure to include your name, the property address, and your loan number. Sign and date the hardship letter.
2. Gather all of your supporting documentation and give it to your Realtor. Do not send it directly to your lender. Your agent must submit a complete short sale package to your lender. The short sale process works more smoothly when a complete, rather than piecemeal, short sale package is forwarded to your lender.
3. If you don't understand something about the short sale process or why your agent is asking you to provide certain documents, ASK for further explanation. Don't just ignore your Realtor's advice or requests.
4. Respect that your agent is a professional and works on a schedule. If your agent asks to schedule an appointment to meet with you, work with him or her to schedule a time that works for both of you.
5. When your Realtor leaves you a message, return his or her call promptly. If you promise to call your agent back, do so in a timely fashion. Remember, your agent contacted you for a reason, not to chit chat.
Many agents do not like short sales for a variety of reasons. I am not one of them. I enjoy facilitating short sales and, from the feedback I've received from my clients, am pretty good at it. My goal is to help as many homeowners as I can to successfully short sale their home. If you are considering a short sale, give me a call at 678-446-5925 and I'll be happy to answer any questions you may have.
Working with this client has compelled me to write a short post to help sellers navigate the short sale process. So here are a few tips that will make the process a little smoother for both you and your real estate agent.
1. Write a compelling hardship letter that explains your financial hardship. Be sure to include your name, the property address, and your loan number. Sign and date the hardship letter.
2. Gather all of your supporting documentation and give it to your Realtor. Do not send it directly to your lender. Your agent must submit a complete short sale package to your lender. The short sale process works more smoothly when a complete, rather than piecemeal, short sale package is forwarded to your lender.
3. If you don't understand something about the short sale process or why your agent is asking you to provide certain documents, ASK for further explanation. Don't just ignore your Realtor's advice or requests.
4. Respect that your agent is a professional and works on a schedule. If your agent asks to schedule an appointment to meet with you, work with him or her to schedule a time that works for both of you.
5. When your Realtor leaves you a message, return his or her call promptly. If you promise to call your agent back, do so in a timely fashion. Remember, your agent contacted you for a reason, not to chit chat.
Many agents do not like short sales for a variety of reasons. I am not one of them. I enjoy facilitating short sales and, from the feedback I've received from my clients, am pretty good at it. My goal is to help as many homeowners as I can to successfully short sale their home. If you are considering a short sale, give me a call at 678-446-5925 and I'll be happy to answer any questions you may have.
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