Questions to Ask the Short Sale Agent When Buying a Short Sale
When you find that short sale you want to buy, now you get nervous about the process. Here are some helpful questions to ask the short sale agent before submitting a contract.
How many short sales have you closed?
You want to find out if the seller’s agent has experience with short sales. What if this is their first rodeo? Short sales can be complicated so you want to make sure the agent has had successful short sale closings in the past and is familiar with the process of short sales.
What Documentation has the Seller submitted?
You will want to make sure the seller actually qualifies for a short sale. No use going through the motions if they do not even have what it takes to get a banks approval. The agent might not disclose all the information like the need for a hardship letter from the sellers but they should be able to tell you that they have submitted all the paperwork to file for a short sale approval letter.
What are your expectations from the buyer?
When entering a contract for a short sale, you may be asked to submit in writing that you will not put an offer on another home. Make sure you know whats expected of you before you write the offer.
What do you know about the lender?
Some short sale agents may have plenty of experience with certain banks. They might be able to tell you the average time it takes for an approval or if that particular bank is easy or hard to work with.
If you are in a possible short sale situation and want to get more information about the process, please call us. We would like to help you understand what you need to know about a short sale and if you qualify! We have successfully sold over 350 short sales! Yours may be next!
Jennifer Young Homes
Keller Williams Realty
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About Jennifer Young
Jennifer Young is the CEO and Team Leader of Jennifer Young Homes with Keller Williams Realty. Jennifer is a highly experienced real estate agent and industry leader specializing in the Virginia, Maryland and Washington DC market. Jennifer sells Regular Sales, Short Sales, Foreclosures, Rural Residential & Land. Her team has helped hundreds of troubled homeowners for FREE! Call Jennifer today for a free consultation at (703) 651-5655 or email her.
Hear from our clients…
Jennifer Young was a great agent, especially because of the amazing team working behind the scenes. Her and her staff knew so much about short sales.
Jennifer Young sold our home for us in Fairfax, VA and did an incredible job. It was priced right and went under contract in less than 10 days.
We worked with Jennifer Young and her team when short selling our property. They were on-the-ball and completely on top of my case at all times. .