How to Oversee Your Short Sale Expert

Step-by-Step Guide

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   Step 1: Understand that 20% of short sales actually close.

   Most Realtors have an abysmal short sale record.
   
   Make sure the short sale team you work with has real experience and real success.
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   Step 2: Ask your Realtor to pull up their MLS statistics.

   Have your Realtor or short sale team show you how many short sale listing they have had and how many close.
   
   You will be quite surprised but what you find out. ,, Then check their explanation.
   
   Have them explain what the difference is between a release of mortgage, a mortgage sat and a release of liability for a loan. ,,,,,
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   Step 3: Ask your Realtor to bring his or her 10 most recent approval letters.

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   Step 4: Ask your Realtor to explain the difference between a lien a mortgage and a note or a loan.

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   Step 5: See if you Realtor will pay to have an attorney review the Realtors work.

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   Step 6: If you do decide to list

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   Step 7: make sure you have a right to back out of the listing contract and a future purchase contract if you are not satisfied with terms of the .

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   Step 8: Make sure your Realtor submits the short sale package and checks in with the lender(s) every week.

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   Step 9: Have your Realtor discuss the deficiency release.

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    Step 10: Have the short sale approval letters reviewed by an experienced real estate attorney.

Detailed Guide

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