Most Common Short Sale Pitfalls
Selling your home in a short sale has several aspects that are different from a traditional sale. The pitfalls you can run into on a short sale are different as well.
1. The most common mistake is that the agent does not submit the deal properly. There is a specific list of paperwork the lender needs, if you don't follow the directions you receive for submission, then you are expecting an over-worked, under-staffed bank department to go out of their way to handle your file. The chances of this are slim. If you are instructed to fax your file, fax it and send a backup copy in the mail. If you are instructed to mail two copies, mail two copies. You don't want your deal to fall apart because no one sees it.
2. The second most common mistake is that the property is no priced correctly. This is the most common reason a listing expires and a property doesn't sell. Be sure to choose an agent that understands the pricing required with a short sale.
A CDPE trained agent can help you best navigate the complicated waters of selling your home in a short sale.
Chris & Karen Highland
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The Highland Group
Chris & Karen Highland * 301-831-9947
Turning Point Real Estate – 301-831-8232
email us: isell4u2@msn.com
Text Us: 301-401-5119