Step One of a Short Sale: List My Property
The process of listing a property as a #shortsale typically involves the following steps:
1. Determine if a short sale is appropriate: A short sale is typically only an option if the #homeowner is unable to make their mortgage payments and owes more on their mortgage than the property is worth.
2. Contact the lender: The homeowner will need to contact their lender and request permission to proceed with a short sale. The lender will typically require the homeowner to provide documentation of their financial situation, including proof of income and expenses.
3. Hire a real estate agent: The homeowner will need to hire a real estate agent to list the property for sale. The real estate agent will be responsible for marketing the property and finding a buyer.
4. Price the property: The real estate agent will work with the homeowner to determine a fair market value for the property. The goal is to find a buyer who is willing to pay a price that is acceptable to the lender.
5. List the property: The #listingagent will list the property for sale and begin marketing it to potential buyers.
6. Find a buyer: The real estate agent will work with the homeowner to find a buyer for the property. The buyer will need to submit an offer to purchase the property, which will be reviewed by the lender.
7. Negotiate with the lender: If the lender receives an offer that they are willing to accept, they will negotiate the terms of the sale with the buyer and the homeowner.
8. Close the sale: Once the terms of the sale have been agreed upon, the sale can be closed and the property transferred to the buyer.
It's important to note that the process of selling a property as a short sale can be complex and time-consuming. It's a good idea to work with a real estate agent and a financial advisor who has experience with short sales to help guide you through the process.
Full Version of Video: • The Short Sale Showdown: How to Avoid...
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Ruben I. Rodriguez
@OfficialRealtorRuben
O: 786.474.4654
