Tip 1: How do I find a qualified short sale agent?
There are a lot of real estate companies and real estate agents in Colorado claiming to know short sales, but they are really just learning the “how-to’s” of short sales? Now even national short sale companies are claiming to know how to process short sales in all states, but do they? Short sales are certainly a process that needs a lot of experience and finesse. Processing. negotiating, and listing short sales are not for the novice. Key Concepts has been a leader in processing and negotiating short sales in Colorado since 2005. It has come to our attention that many of these so-called “short sale experts” do not know anything about the short sale process or about short sales in general. I have listed a few questions that I feel will qualify a real expert from a novice. I would also advise a homeowner to not use an agent who has not performed more than 10 short sales in the last calendar year or who has less than a 90% success rate.
Here are a few questions I would suggest a homeowner ask before selecting a short sale agent.
1. How many short sales have you completed in the last 6 months to 1 year?
2. How long have you been performing short sales?
3. How many short sales have you completed for (your mortgage company here)?
4. What has been your experience with my mortgage company?
5. Do you process your own short sales or do you sub out? If the answer is: no they do not process their own short sales then ask who handles the short sale after it is submitted? Be cautious if the agent uses a national short sale processing center or title company to process the short sale.
6. How long do you think my short sale will take? Be cautious of agents who propose “quick”, less than 60 days, or we get them done the fastest.
7. Make sure to note if your short sale is a conventional loan, FHA pre-foreclosure sale, or VA short sale. Ask the agent if he or she is knowledgeable in the type of loan product that you have. All loans are not treated the same.
For more information on short sales call Key Concepts at 720-276-2553 or visit http://www.kjhomefinder.com . We understand short sales and we can help.
Tip 2: When and where to purchase a home?
We understand what it takes when looking for a new home. In almost every real estate transaction, the seller of the home pays the commissions for both real estate agents. This means that, as a buyer, you can hire a professional to representation you and assist with your search criteria and contract negotiations without paying out-of-pocket expenses. An experienced buyer broker can help eliminate a lot of the worry and doubt when choosing a home to purchase.
Also worth mentioning is that Key Concepts works with a lot of short sales and most transactions on the market are short sale homes. These type transactions require specialized knowledge to coordinate all the way to the closing. 1 unqualified agent can be a detriment to the buying process. If you’re not already working with a Buyer’s Broker, please consider one with short sale experience.