Top 10 Questions to ask when interviewing a Listing Broker for your short sale.
- What is your experience with representing sellers in short sales?
- How many have you closed and what is your success rate?
- Have you closed short sales with multiple liens and different lienholders?
- Have you closed short sales with specific investors, insurers or institutions such as Fannie Mae & Freddie Mac?
- When we receive offers, do you recommend to sign just one offer and send it to the bank for approval, or do you think it’s best to send multiple offers?
- Do you have a financial modeling program to decide whether the short sale is going to yield more cash to the investor/my lender than a foreclosure?
- How do you recommend pricing the property, based on the outstanding mortgage balance, as well as current market conditions?
- How, as the listing agent, will you handle possible commission reductions requested by the bank?
- Are you going to handle the short sale yourself, or will you outsource the process to someone else?
- What fees are charged to me to process the short sale?
We can help review their answers and interpret if your broker is up for the task. Contact us today – we have a wide network of short sale brokers throughout Colorado and will find an expert in your area – 720-608-1173.
