There is no better way to understand the short sale process than going through it firsthand. Your Venice short sale agent plays an important role in any short sale process and is there to answer any of your questions. Here are some of the things that sellers have experienced with short sales.
One of the biggest surprises with short sales is that to qualify for a short sale you have to miss a payment on your house. That means that when you come to a point that you want to work with a Venice short sale agent to get your home on the short sale list you will be asked to miss some payments so the bank will move ahead with the transaction. Before you talk to the bank, it is better to have missed at least one house payment.
Also, you should never underestimate your Venice short sale agent. No other type of real estate involves the same amount of expertise as a short sale. You Venice short sale agent is trained to help you sell your home and works as your advocate when dealing with the bank. Take the time to research out a good Venice short sale agent and you won’t regret it.
Finally, many people will tell you that a short sale will not affect your credit rating, but this simply isn’t true. There are penalties that come with selling your house as a short sale. Your Venice short sale agent and your banker can help you weigh the pros and cons of listing your house as a short sale so you can do what will be right for your current situation.
While there are some drawbacks to listing your house as a short sale there can be some benefits too, and many times the benefits will outweigh the negative aspects of a short sale. Just make sure you take sufficient time to completely consider all of your options.