SHORT SALE BUYERS
1. Hire A REALTOR®!
Not all real estate agents are REALTORS®. REALTORS® are members of the NATIONAL ASSOCIATION OF REALTORS® and voluntarily pledge to abide by the strict code of professional ethics.
2. Knowledge is Your FriendThe short sale process may be new to many buyers and is much different than a normal transaction. It is important to know what you are getting yourself into.
3. Do Your HomeworkGather and review as much information about a transaction as you can before writing an offer to purchase. Your REALTOR® can help you identify which properties for sale in the Multiple Listings Service are short sales.
4. Write A Clean OfferThis describes an offer to purchase that the seller is unlikely to take issue with.
5. Understanding the TimingA short sale may take a long time and it is important to understand the timing of the process.
6. Prep as Best as You Can
7. Manage Your Expectations About the Property
8. Don't Lose Sight of the Big Picture
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SHORT SALE SELLERS
1. Hire a REALTOR®!Not all real estate agents are REALTORS®. REALTORS® are members of the NATIONAL ASSOCIATION OF REALTORS® and voluntarily pledge to abide by the strict code of professional ethics.
2.Take a Proactive ApproachThe short sale process can take a lot of time and effort on your part, so taking a proactive approach to your short sale may help you complete the transaction as quickly and painlessly as you can.
3. Knowledge is Your FriendThe short sale process may be new to many sellers and is much different than a normal transaction. It is important to know what you are getting yourself into.
4. Do Your HomeworkAs early as you possible, determine your lender's short sale requirements and whether you satisfy those requirements.
5. Get a Good Price For Your HomeGetting a good sales price not only improves your chances of getting your short sale approved, but may also have other advantages.
6. Submit a Complete Short Sale PackageProvide your lender with a complete short sale package containing all the required information and documentation in an organized manner.
7. Be Patient But Persistent
8. Avoid Scam ArtistsBe wary of scams. Your REALTOR® will help you avoid getting duped.
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