Jul
13
I’m sharing part of our secrets to getting short sales closed successfully for our clients. We use a Buyer Short-Sale Checklist for the homes we represent. This adds an extra level of protection for our Sellers.
Here is the checklist of questions, Yes or No answer to each one:
1. Is the buyer pre-approved?
2. Is the buyer a cash buyer and willing to submit proof of funds?
3. Is the buyer willing to make a reasonable offer?
4. Does the buyer have realistic expectations of the time-frame?
5. Can the buyer be flexible on their closing date?
6. Will the buyer lock in their interest rates thru to closing?
7. Is the buyer willing to spend money on the following to make this happen?
- Mortgage application
- Inspections
- Attorney fees
If there are, seriously consider not taking this buyer’s offer or as a client.
We do use this checklist and everytime we have an offer on our short sale listings or are representing our own buyer. We follow it exactly and it’s a huge success for all involved! The only area where there can be some flexibility is locking the rate thru to closing. We have our preferred lenders lock the rate immediatly after approval.
Information is provided from my desginataion, SFR, Short Sales & Foreclosures: What Real Estate Professionals Need To Know.
