If you are a Real Estate agent thinking or beginning to consider the listings of short sales...do sign up for a few classes. You'll never have taken to many because each lecturer brings something new to the table, and each will prepare you for the frustrations associated ...That said
1st... Find out whether you are a Judicial State or not, and become familiar with it's impact on Foreclosure,which may follow your attempted short sale...also find out if your client has property in another state and how ownership of that property may impact their asset position in your state...and where they are financially with that property.
2nd , Become familiar with "Deficiency Judgements"...and how they may effect your selling client. Just learn about them...then always reffer your client to his /her attorney. Don't practice LAW.
3rd. Learn everything you can about Short Sale Packages...again, always deffer to an attorney but... become familiar with the elements of the package...ie, hardship letters, need for financials, et. you are expected to know about them!!!
4th. Then as a selling agent or a Buyer's agent , be prepared to WAIT...
Subscribe to:
Post Comments (Atom)
Posts
No comments:
Post a Comment