5 Questions to Ask When Submitting a Short Sale Off
er
In the Myrtle Beach short sale market, there are of
ten questions. People simply want to know, is this
going to work for their best interests. If you are
working with a real estate agent in Myrtle Beach fo
r
short sales, your agent will provide you with guida
nce and direction specific to your unique
circumstances. However, many people will benefit by
simply knowing the answers to a few important
questions.
In fact, the following five questions are vital to
ask prior to submitting an offer on a short sale. A
short
sale offer without this information in hand is one
that could lead to problems.
1.
Does the selling agent have experience with short s
ales? In markets such as Myrtle Beach, short
sale real estate agents are readily available. The
key is to ensure the selling agent (the one
working for the property owner) has the ability to
communicate well with you and with the
lender.
2.
Are there liens on the property? Those properties w
ith multiple liens on it will be the most
difficult to process through a short sale. Your rea
l estate agent will help you to learn about
potential liens and help you to avoid properties wi
th too many.
3.
Are there other offers? Properties with numerous of
fers can be hard to process through a short
sale. Although the agent is unlikely to tell you ju
st how much those offers are, knowing there are
other offers can be helpful.
4.
Has the loan servicer already approved the price on
the property? This does not always happen,
but in situations where the short sale price is app
roved in advance, the process can be sped up.
5.
Is the property worth the price? This is a question
your real estate agent will help you answer.
The fact is, just because the lender and seller acc
ept the short sale offer does not mean it is a
good deal for you. Work with your real estate agent
to determine the profit margin for you on
the transaction, if this is important to you.
Overall, submitting a short sale offer is a big ste
p in the right direction. If you take the time to l
earn the
market, and understand the opportunities on the tab
le, you are better able to make the transaction
more successful. Talk to a Myrtle Beach short sale
real estate agent today to learn more.
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