Avoid Possible Short Sale Problems And Mistakes Before You Make Them! Part I

Considering a short sale can be a daunting task because it is a bit more complicated than a traditional home sale. Knowing what some of the common short sale mistakes are and their solutions can be very helpful for a successful outcome. Here are some of the most common mistakes made with this type of transaction, and their solutions:

• The property is not priced correctly: Be sure that your agent takes you through a detailed listing price strategy so you know exactly where your home should be priced due to its current condition, the other current sales in your area, and how much time you have left to sell.

• The short sale Proposal is not fully completed: Be sure that you fully understand the short sale process and exactly what your lender is looking for, so that you can present a complete and cohesive Proposal to your lender.

• Not Enough Follow Up and Communication: Make sure that your agent is following up with everyone involved during each step of your short sale, so that you know right away if your file has been delayed.