You may not be aware of this fact, but did you know that to buy a short sale house you have to be able to qualify? Your Venice short sale agent finds that many people enter the short sale market because they see the great deals that they can get on a home, but they do not consider the qualification guidelines for buyers. Here are some general guidelines of buyer qualifications so that you will know when you are ready to work with Venice short sale agent.
First, as a buyer you want to have good credit. Think of it from the bank’s perspective. They have already lost money on the sale of the house, and a lender does not want the risk of losing more on the house. That means in a short sale deal you have to have a stellar credit score or cash offer to even be considered for a short sale.
Second, you have to have a Venice short sale agent. It is true that you have the choice of using a specialized Venice short sale agent or any Realtor, but a short sale agent can be vital to ensure that you get an approval on your offer. The biggest reason why you need a Venice short sale agent is because when a seller lists their house as a short sale one of the first documents that they sign is the permission for the agent to submit an offer with the bank. Because of that contingency, you would find it difficult to even discuss the matter of a short sale with the bank.
Finally, you have to be able to make an offer that will be beneficial for the seller, the lenders, and you, the buyer. Your Venice short sale agent plays an important role in short sale offers because they can help you qualify for the a short sale home.