The first step when considering an short sale in Idaho is to seek the help of a well versed real estate professional. As the inventory level of short sales has continued to grow in Idaho, the number of agents truly qualified to assist troubled homeowners has fallen off pace.
There have been a slew of designations created deeming any real estate agents, willing to pay the fee, a “short sale expert” or “short sale specialist.” An experienced agent with a proven track record for negotiating Idaho short sales makes a difference; by some estimations the average agent has less than a 34% of successfully negotiating a short sale.
A qualified Idaho short sale professional will have a much higher success rate. When selecting your agent make sure they have experience and knowledge of the Idaho short sale process.
At a minimum a qualified short sale professional should:
- Provide you with a comparative market analysis (CMA) or broker price opinion (BPO).
- Help you set an appropriate listing price for your home, market the home, and get it sold.
- Put special language in the MLS that indicates your home is a short sale and that lender approval is needed (most MLSs permit, and some now require, that the short-sale status be disclosed to potential buyers).
- Handle the process of working with your lender(s).
- Negotiate the contract with the buyers and set proper expectations.
- Help you put together the short-sale package to send to your lender(s) for approval.
- Handle any requirements your lender or any other lien holders have for releasing the lien so that the buyers can get clear title.
Never list with an agent you feel is looking to take advantage of your situation or pressure you to into a hasty decision. You should feel that they have your best interest in mind and the experience and knowledge to assist you competently.
Get help from one of HopeForIdaho.com’s experienced short sale professionals:
[small_button text="Free Help" title="Short Sale Assistance" url="[small_button text="Free Help!" title="Free Short Sale Assistance" url="http://www.hopeforidaho.com/assistance-application/" align="left"]
