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5 Tips you should know about Short Sales

1.Real Estate Agent

Qualify a good agent that knows both the market area and the process.

There is nothing more crucial to finding a good deal than having an agent that is experienced to help you qualify how good the deal is.

Look for advanced training

Mortgage knowledge

Do they have a strong network with other agents?

2. Make sure your affairs are in order sooner than later.

Though the process can take longer than anticipated once a bank makes a decision they give tight time lines as short as 2 weeks! Hurry up and Wait…ring a bell.

3. Contractors- make sure you have lined more than one up or your agent has reputable companies to help you in evaluating the cost of repairs. Often you will need to furnish 2 bids to a lender and why wouldn’t you; it’s to your advantage!

4. Title- this is a no brainer- do your homework, there are titles that look just fine only to find out that that with some digging the deal was better left alone.

5. It’s just business- Yes we all become emotional when we get attached. The key is to look at the home as a business deal. Always look at the numbers and let them do the talking. If you don’t you may buy a home based on its kitchen and though it may have cost $40,000 it won’t resell your investment on your love of it.

Angela