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The DavisResnick Group closes more than 90% of all Short Sale Transactions. We have extensive experience in Anne Arundel MD Baltimore County and Baltimore City.
Top 10 Questions for a Seller to Ask A Prospective Short Sale Listing Agent
1. Have you CLOSED short sales with multiple liens and different lienholders? (How many liens are there on the property? ) How many?
First or first and second or HELOC, HOA, Condo, Special Assessment, Tax? If the 1st and 2nd aren't with the same servicer, challenges in obtaining multiple approvals from different lender/servicers are compounded. Second lien holders and HELOC holders can be extremely difficult and are very adept at killing deals. Your agent had better have experience with these situations if you want the best chance for a good outcome.
2. Do you have a financial modeling program to determine whether the offer is going to yield more cash to the investor than a foreclosure? Would you show it to me?
This is how the investor (owner of your loan) ultimately decides whether or not to approve a deal. Absence of this kind of modeling program means your agent is pretty much throwing darts with a blindfold on and has no idea what the lender servicer might actually accept.
The DavisResnick Group are Experienced Waterfront and Short Sales Realtors in Anne Arundel & Baltimore Counties, Specializing in Annapolis Waterfront Homes.
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