The need to know the The Difference between a Short Sale Expert and a Short Sale Wanna-Be in Bucks County, PA is very important. It could very well be the difference in getting your financial life back in order and saving your credit or the cause of financial ruin and foreclosure.
Do you live in the Bucks County, PA or Philadelphia area? Are you a home owner in distress? Are you looking for help but don’t know where to turn?
Are you considering selling your home as a short sale but not sure what the process is or what real estate agent (if any) is capable of helping you?
Well keep reading and stay tuned, the answers to these questions and more will follow. Due to the complex nature of short sales it will take multiple blogs to get through it all. But before we start...a brief interruption.
I must first start by stating, I am not an attorney. If you are in a distressed situation with your home, you should most certainly contact one immediately or at least make sure the real estate agent you are considering hiring has one, or better yet, a few they can recommend. An expert will have attorney(s) and accountant(s) they deal with regularly to help them navigate the short sale maze.
What is a short sale?
A short sale transaction occurs when a property you want to sell is worth less than what you owe the lender(s) and/or lien holders.
How can I find and differentiate a short sale expert from a short sale wanna-be in Bucks County?
You should start by doing some research and be wary, short sales are the new “thing to do” for realtors and most have no clue what they are doing. Worse yet are those who know a little, yet act is if they know more than they really do. Total number of years of practice and short sale designations are something you should seek in your representatives but are not as important as number of short sale transactions actually completed and success ratios. Be warned some of those who have special short sale designations and have been licensed for years may not be all they claim when it comes to short sales. Just because they have been licensed for a number of years or have a special designation does not make them an expert in short sales. All this means is they sat through a 2 - 4 hour course (at most a one week course) on the subject. It is very possible they have not completed one short sale transaction at all, maybe done a handful or have not done one in a very long time and are not up to date on the current rules and regulations in the case of a more seasoned agent.
Ask yourself......... With your financial future and well being at stake, do you want to be their guinea pig while they learn on the fly? Negotiating short sales is not like riding a bike, the rules and regulations are changing rapidly and what worked as near as a few months ago may not work today.
So where do you begin your search?
Well, the usual friends and family may not work here. Maybe you’re a bit apprehensive about informing your family and friends about the financial situation you’re in and you don’t want them to know about it. You could always just blindly call a local brokerage office and start asking questions but who knows who will answer the phone on the other end. At the expense of being blasted by other real estate agents, I suggest calling a local real estate investment group like 1-800-Sell-Now or equivalent.
Why would I, as a realtor, suggest such a thing?
Shouldn’t I be wary of investors who “bottom feed” and take advantage of unsuspecting and uneducated (in real estate) sellers?
Are there some common questions I should ask a short sale professional to determine their level of knowledge and experience?
Answers to these questions and more will be answered in the subsequent blogs which will follow. If you are a seller in distress and don’t want to wait that long, please feel free to call me at 215-815-8195 or e-mail me at Kevin@Envirian.com
Disclaimer: While attempts have been made to verify information provided therein, the author does not assume any responsibility for errors, omissions, or contradictory information contained in this document. This document is not intended as legal, investment or accounting advice. The reader of this blog assumes all responsibility for the use of these materials and information. Each state has different rules and regulations that must be adhered to so before you act make sure your representatives know and understand the rules of the game in your state. I will be specifically talking about Bucks County, Philadelphia and surrounding Pennsylvania short sale regulations and rules.