For many South Jersey homeowners, having to sell their home via short sale is the only option. Before just listing your home for sale with any South Jersey Realtor, here are some tips to keep in mind, and questions to ask if you are planning to sell your home as a short sale:
1. What is their background with short sale?
Since there are many homes that are listed, but do not sell, you want to make sure that you are careful in the realtor you select to represent you for a short sale listing (or any listing for that matter!). Not only do you need a realtor who is familiar with your local market, but you will also need someone who specializes in short sales in South Jersey. The first question you should ask is about the experience they have had with short sales. Do they have special training, designations or certifications to be taking care of short sales? One of the most respected certifications to many lenders is the “CDPE Designation.” This designation is a training and certification that is on-going that enables realtors to have a better understanding of short sales and how to list and sell them. Working with a CDPE realtor, you can feel confident that they have undergone extensive training and are prepared to represent you in the sale of your home.
2. How will they communicate with you and represent you?
As with any listing, communication is vital. Selling your home via short sale in South Jersey can be scary, frustrating, and stressful. You want to make sure that the realtor you have selected is able to communicate with you and help with the questions you have. If you call them, are they able to return the call in the same day? Since you will be experiencing many emotions, often more than a traditional sale of a home, you want to make sure that you have a realtor who can call or email you back as questions or issues arise. Typically, you will be able to tell how the realtor will be based on how quickly they respond to you when you first reach out to them. You can also get recommendations from them, or even ask them directly how they communicate with their clients.
3. What is the process that is in place for your Short Sale Realtor?
Selling your home via short sale in South Jersey is a rather different process than a traditional real estate listing. Of course, you will still have appointments and offers like a normal listing, however, there is a little bit more paperwork involved. You will want to make sure that you have selected the right South Jersey realtor to represent you by seeing what systems they have in place. For example, a successful short sale realtor will want you to have the documents that they will need up front and ready to go for when the property is listed. A list of these documents can be found here.
Many CDPE realtors have set up a systematic process of procedures when it comes to the paperwork to make sure everything is done is the most efficient manner. Some, will even have a short sale attorney that you will be able to communicate with as any problems or questions arise. An experienced short sale realtor will have a very systematic approach for collecting your documents and getting the file over to your lender to start the process right away. Knowing you are working with a proactive realtor for your short sale could be the difference of an approval vs a denial when it comes time for your lender to approve the short sale.