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Short sales and teamwork
Colorado Springs Short Sales, it’s all about the teams
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In completing a Colorado Springs short sale, you have many different teams —each with his or her own responsibility. It’s important that all of the teams work together with a common goal.
First off, you have the Seller. The responsibility of the Seller is the same as any seller, but in addition to that they need to provide all of the documentation required for the short sale package and any other documents requested by the lender.
Then there is the Listing Agent. They are responsible for listing the property as well as providing the seller with all the information about the short sale process.
Then there is the Short Sale negotiator. (This may or may not be the Listing Agent.) This individual must be well-organized, tenacious and have a strong understanding of the short sale process.
Then there is the Buyer’s Agent, who represents the buyer in the purchase of the short sale including an explanation of the risks and benefits of purchasing a short sale.
Then there is the Buyer, who needs to be ready, willing, and able to perform. The Buyer should also understand the importance of signing a contract, the short sale process, and the length of time to complete the process.
Other teams include the Bank Employees who do the short sale negotiating, the Escrow and Title officers, and the Buyer’s Lender.
Interested in selling your house as a short-sale? Email Kathy Torline KTorline@msn.com or call 719-287-1049
Short Sales can be Successful
What makes a successful Short Sale?
If you are interested in a short sale, It’s important to utilize a Colorado Springs Real Estate Agent that specializes in Pre-foreclosures, Foreclosures, and Short Sales; and has a successful and ethical track record. Call Kathy Torline – Nordstrom, 719-287-1049, KTorline@msn.com
Some statistics say that only 10% of short sales result in a successful closing. Not good odds. Made me start thinking about what makes a successful short sale. They do take a lot of hard work and each one is different, but there are some key factors that can make the difference between a successful short sale and one that fails.
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Seller has a genuine hardship.
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Seller is cooperative and motivated to complete the steps required by the lender(s)
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Lender(s) and other lien holders have been contacted and are willing to consider a short sale Read the rest of this entry »
