How A Short Sale Agent Can Help You

Many struggling homeowners have, at one point, considered taking matters into their own hands and pursuing a short sale on their own. After all, it’s hard to see the sense in paying a third party when you’re already about to lose your home. But a short sale agent is often worth every bit you pay them, sometimes more. Here’s how you can get better short sale results with an agent and how you can build a good relationship with them.

Play By The Rules

A Short Sale agent will know local laws better and help you use them to your advantage. For example, a short sale under the government program HAFA (Home Affordable Foreclosure Alternatives) isn’t the same as lenders’ private programs. Depending on your state, there may be rules on how long a short sale can take, how much can be forgiven, or how borrowers are assessed. A short sale agent can help you stay in line and avoid problems caused by non-compliance.

Know The Market

Short Sale Sellers seldom know how the market works, and this can lead to bad decisions. You need at least a working knowledge of your city’s real estate market and home values to make a strong case for your lender. With a short sale agent, you can do your research and use the information wisely. They can help you negotiate the short sale with your bank and back up your case with solid facts.

Get Your Home Seen And Sold

The primary role of a short sale agent is to list and market your home. You can do this on your own, of course, but an agent who’s been in the short sale business for a while will have useful connections that can help the sale along. Besides putting your home on the MLS, a short sale agent will get word around to buyers and their agents, help you prepare the home for viewing, and maybe schedule an open house.

Read Before You Sign

Real estate contracts are always complicated, and that’s even more so in a short sale. A short sale agent can explain each part of the contract to you and make sure you know what the terms are. If there are any vague parts, you can clear it up before proceeding with the short sale. With a short sale agent, you don’t just sell your home and get back on track sooner—you also get valuable tools that you can use in the long run.