Homeowner’s Responsibilty When Going Through a Short Sale

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Highlights include valuable tips on the do’s and don’ts that contributes to a successful Short Sale.

Definitely a must see video for both the agents and homeowners who are lost at navigating through the maze of a Short Sale.

[youtube]http://youtu.be/KaRWuBNjtMo[/youtube]

Video Recap:

Showing Your Home: You must allow showings, cooperate with buyers, and cooperate with inspections and second showings. Remember a short sale cannot move forward without a buyer!  Do not deny showings, during negotiations the bank could request the showing report.  Some forms now include questions about seller cooperation.  If the bank does not see that you are cooperating they can shut the short sale down.  Allow as many, if not all, of the showings that are scheduled.  Additionally, it is best if you are not home.

Cooperate with your agent:

Financials are very important.  Save your pay stubs and bank statements as soon as you get them.  Be proactive; send them to your agent early!  Short sales can be shut down if those financials are turned in after a dead line. Don’t waste time.  Don’t give the bank a reason not to process your short sale.

Let the Lender set the Price.  The bank has the last say; the seller should really not be involved. We understand there is emotional attachment to the house but trust your agent.  They will be involved on your behalf when deciding the price.  It is ok to be aware of the price that has been set but do not try to influence the price.  Getting involved could jeopardize the sale of the house.

Feel free to contact us anytime at 972-342-0011.

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