Short Sales: It Takes a Village

You've heard the saying "It takes a village" and in reference to a short sale, it's certainly true.

A short sale can be difficult if all moving parts aren't in sync and all the players aren't up to speed.  Here are the main components that make for a successful team effort and will make for a smoother sale.

• YOU - The seller is THE most important player in the short sale.  Are you really ready to let go, and are you going to be a team player? Are you able to work with your real estate agent, and are you willing to provide the items that they need to get this short sale going?  Also, are you willing to show your home to prospective buyers, and will you follow the advice of your realtor for pricing?  These are a few questions that you have to ask yourself, and if any of the answers are "no," then you may be in for a longer ride than expected.
• REALTOR - Once you're ready and have made that decision that short sale is the best option for you, choosing the right real estate agent is key.  Experience  DOES count, and  having an agent that has done short sales, and has experience in dealing with the banks' demands, will keep the process moving along.  Also, keeping open lines of communication is important in picking the right realtor.  Can they keep you updated on a consistent and timely basis, and are you comfortable with their style and frequency of contact?
• ESCROW - All escrow officers are not created equal! While any good escrow officer who has been around for the last 10 years has seen their share of short sale escrows, not all escrow officers have the ability to think outside of the box and understand the often cryptic demands that the bank negotiators make.  Also, availability and communication are again key.  Can they provide updated closing statements as the banks need them, and can they work with the hectic time demands that the banks often push upon the transaction?
• TITLE - Title assures that all liens associated with your property are accounted for and paid off at the closing of a short sale.  The importance of a diligent and thorough title search is paramount to a clean closing.  While all title reports will provide the liens that need to be paid and have to be negotiated in the short sale, certain title officers will go above and beyond to help with any issues that may pop up.  I've worked with my share of title officers that have no interest in going the extra mile, and this isn't what you want.  You need to have someone who will ALWAYS make that extra effort on your behalf.

In the 150+ short sales that I've closed, I have worked with my share of sellers, agents, and escrow and title officers.  I can help you find that team you need to get your short sale done.

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