Working with a real estate agent is the best way to navigate through the selling or buying process. These experts can also provide extra support and knowledge when going through the process of a short sale. Check out these tips for getting through the short sale process with your real estate agent near Atlanta:
Learn About Your Options
Is a short sale really your only option? It is a good idea to meet with a real estate agent to learn more about short sales and discover any other options you might have. Some homeowners are able to renegotiate with their lenders and choose a loan modification instead of going forward with a short sale. Even if you decide to go through with a short sale, this step will help you feel more confident with the process!
Get Your Documents in Order
A short sale is different from a traditional sale, which is why your real estate agent should help you determine what documents you need for the process. Your lender will decide what documents you will need in order to comply with their terms for completing a short sale. Lenders typically require homeowners to provide at least a couple of months’ worth of bank statements along with income tax records, a copy of the purchase contract, listing agreement, proof of assets, and a letter detailing their current financial situation which resulted in the need for a short sale.
Once you have completed the steps set in place by your lender, you and your real estate agent can focus on attracting buyers to your home. No matter what type of sale you are holding, it is important to make sure your home is in great condition so that it attracts as many potential buyers as possible. If you are happy with an offer, you and your real estate agent will work together to complete a proposal packet for your lender. If the lender is happy with the packet, you can move forward with the sale.