Quick! A potential short sale seller calls you to list his property. What questions do you ask? Here are a few to start the conversation....
1. Who are the mortgage holders on your property?
2. Approximate balances?
4. Do you have a hardship? If so, what caused it?
5. Would you prefer to keep the property?
6. Have you tried a loan modification or other type of work-out? If so, what was the outcome?
7. If FHA/HUD - have you started any pre-foreclosure sale paperwork with your lender?
8. Have you applied for the HAFA program?
9. Have you consulted an attorney?
10. Why do you want to short sale?
11. Do you or have you ever occupied the property?
12. Are your payments current? If not, how many months have you missed?
13. Do you have enough income to pay your all your monthly debt?
14. If you are current on your payments, where are the funds coming from - savings or some other source?
15. Are you current on association fees?
16. Do you have other liens or judgments?
17. Have you had a foreclosure notice yet?
18. Who else is named on the mortgage or deed?
19. Do you have funds to contribute if asked by your lender to approve the short sale?
20. Would you agree to pay a promissory note if asked?
21. What questions do you have for me?
For other tips on short sales, check out www.ShortSaleSuperstars.com. There are almost 5000 members sharing information to help each other succeed with short sales. Find out how to list them, how to sell them, how to save your sales and how to speed up your approval times. Join today - it's FREE!
Wendy Rulnick, Broker, Rulnick Realty, Inc.
Call toll-free 1-877-ITS-WNDY (1-877-487-9639) or local 850-650-7883 ext 204
Email Wendy: [email protected]