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It all comes down to price. Anything will sell if priced correctly. Everyone wants a deal whether it's on cars, vacations, services, food, gas, and yes...homes! As short sale experts, we are pricing our inventory within 10% of market value and experiencing multiple offer situations which in some cases actually drives the price up. So then you might say, Ok the property is under contract, the buyer got a great deal, the seller is saved from foreclosure, and the property is SOLD resulting in a fairy tale ending. Wrong! Much skill, organization, and commitment is needed to take that short sale from contract to the closing table. As with any "next greatest thing", many looking to stay afloat in this turbulent real estate market claim to be experts in the short sale arena. However, this is not something that one "can fake it until they make it!" Well, what about that designation that says they are a CDPE (Certified Distressed Property Expert)? If your family doctor sat through a one day course of brain surgery then he must be qualified, right? (After all, he did stay at a Holiday Inn Express Last Night!) As with any continuing education course, the time spent gives one the idea of the basics, but only with true experience brings continued success. Below is a list of questions that you must ask before you list your property for short sale or you may find your listing tied up for months without achieving your goal of a closed short sale. Perhaps worse, losing the property to foreclosure without even the opportunity to sell.

1. How many short sales have you listed and successfully closed?
2. Could you provide a list of the successfully closed short sales?
3. Would at least 3 of the sellers be willing to speak with me about their experience with you?
4. Would you supply a list of lenders that you have successfully closed shorts sales with?
5. Do you negotiate your own short sales or farm them off to a title company, attorney's office, or some other third party?
6. How often will you follow up with my lender for status on my short sale?
7. Will you communicate with me on all of my status updates and the other Realtor involved (if applicable) or the buyer directly?
8. What will happen if there is PMI on my loan?
9. What if my property is a primary residence?
10. What if my property is not a primary residence?
11. What if my property is a condominium?
12. What are the tax implications?
13. Why should I complete a short sale as opposed to a Dead in Leiu or just let the property go?
14. What will happen to my credit?
15. Will you accept back up offers?

If you are considering a short sale and would like to discuss the answers the questions above or have additional questions, please do not hesitate to contact us. We have a passion for helping people and would love nothing more than to help you!!!

Kristen Kearney