Not all real estate agents in Wellington Florida offer – or care to offer – short sale services so be sure that the agent you want to work with can actually help you out. When short selling your home, you need your agent to be able to offer the following types of services at the very least.
Sometimes, short sales just might not make it to the picture. It’s always a good idea to work with an agent who can help you explore all the possible options for avoiding foreclosure in the event that your short sale application is not approved.
When it comes to short sale pricing, the first move usually has to come from the homeowner – aided by his agent. Afterwards, this may be followed by a series of negotiations and haggling until you and your creditor – and your buyer if one’s already involved – would all be happy with the price set for your
This, however, is one of the types of Wellington short sale services that not every agent can excel in. It takes years of experience working in the local market and dealing with short sales to come up with a price range that would win a creditor’s instant approval.
If you don’t want to waste time, then you need to invest some of it first in searching for the best short sale specialist to work with.
The amount of paperwork that has to be included in a Wellington FL short sale package can be incredible. And it would be a daunting task to complete if you were to work on it alone. As a result, many homeowners consider documentation as one of the most essential short sale services they require.
With documentation, you have to be very careful about what you write and submit because the information it would contain may later on be held against you. As such, it’s best to wait for a short sale agent to provide you much-needed assistance before making any move in this area.
Getting approval for your short sale is a long and arduous journey most of the time, but unfortunately reaching the end of it does not mean your work’s done. You and your agent still have to market your home and find a buyer for it. In fact, most agents start doing this day 1 as your short sale package’s more likely to be approved if you already have a buyer.
As such, when looking for someone who offers Wellington short sale services, you should make sure that the specialist can also do a good job as an agent.
Your Wellington agent needs to present a short sale package to your creditor if you want to short sell your home. Without your cooperation, even the best Wellington short sale specialists won’t be able to guarantee a short sale of your property.
First of all, you need to prove that you are the legal owner of the property that you wish to short sell. This means presenting the deed of ownership of the house and lot. Never sign over your deed to anyone other than at the closing of your short sale by a reputable title company.
You also have to prove to the creditor that he or she is talking to a representative you have officially authorized to short sell your property. Your short sale lender will not under any circumstances talk to anyone on your behalf without a written authorization. This is the first document we need signed by you to. We then send that authorization letter to your lender and then they will speak with us.
Even if it’s a strategic short sale you are after, it still wouldn’t hurt to write a short sale qualification letter. Also known as a hardship letter, this is the part where you let your creditor know your reasons for wanting a short sale. Ultimately, it depends on the bank or creditor that owns your note as to whether or not you’re required to write this letter.
If you are, you need to prove that even though you are not presently suffering from financial difficulties you are already in the brink of doing so if nothing changes about your situation.
Naturally, your creditor would want proof about your income. If you have your own company or business, your short sale package should include its financial statements. Some agents and creditors prefer financial statements of the past three years, but it really depends on the creditor’s requirements. Financial documents typically included are the profit and loss statement, balance sheet, and perhaps the cash flow statement of your business.
If you are employed then you may need to present your pay slip and income tax return.
If you have additional sources of income, documents pertaining to those should also be presented. Last but not the least, you may also be asked to include your latest bank statement in your short sale package.
Offers and Confirmations for Purchase
It would always help if you have a confirmed buyer for the house. If so, your short sale package should include a written confirmation from the buyer about his or her desire to buy your property. Some Wellington short sale agents may also ask the buyer to write a letter stressing their urgent desire to move in to their future home – if the purchase pushes through, that is. And with a beautifully prepared short sale package, there’s a good chance that everyone – you, the homebuyer, and creditor – would get what they want.