Comments on: Can you do a short sale with a for sale by owner? Or will the bank require a realtor as one point of contact? http://wikifsbo.com/2008/09/24/can-you-do-a-short-sale-with-a-for-sale-by-owner-or-will-the-bank-require-a-realtor-as-one-point-of-contact/ Wiki For Sale By Owner Wed, 09 Feb 2011 15:24:50 +0000 hourly 1 http://wordpress.org/?v=3.3.2 By: jombi http://wikifsbo.com/2008/09/24/can-you-do-a-short-sale-with-a-for-sale-by-owner-or-will-the-bank-require-a-realtor-as-one-point-of-contact/comment-page-1/#comment-321 jombi Wed, 01 Oct 2008 03:15:00 +0000 http://wikifsbo.com/2008/09/24/can-you-do-a-short-sale-with-a-for-sale-by-owner-or-will-the-bank-require-a-realtor-as-one-point-of-contact/#comment-321 Have you talked to your lender yet? Ask them what they will require. I imagine that in order to get a short sale approved they are going to need to see quite a bit of documentation about your current local market to justify the loss you're asking them to consider. In talking with your lender you'll probably notice that they will not take you as seriously as they would a seller who has an agent. Kind of like representing yourself in court. You know what they say about the lawyer who represents himself... Having an agent will also help insulate you from what will be a pretty traumatic financial and emotional experience. They of course also know how best to sell a home in this kind of market. Look for an agent who as been working for at least 20 years. They've seen this before and know what to do. I wish you only good luck. Have you talked to your lender yet? Ask them what they will require. I imagine that in order to get a short sale approved they are going to need to see quite a bit of documentation about your current local market to justify the loss you’re asking them to consider.

In talking with your lender you’ll probably notice that they will not take you as seriously as they would a seller who has an agent. Kind of like representing yourself in court. You know what they say about the lawyer who represents himself…

Having an agent will also help insulate you from what will be a pretty traumatic financial and emotional experience. They of course also know how best to sell a home in this kind of market. Look for an agent who as been working for at least 20 years. They’ve seen this before and know what to do.

I wish you only good luck.

]]> By: mscarriem http://wikifsbo.com/2008/09/24/can-you-do-a-short-sale-with-a-for-sale-by-owner-or-will-the-bank-require-a-realtor-as-one-point-of-contact/comment-page-1/#comment-320 mscarriem Sat, 27 Sep 2008 18:55:48 +0000 http://wikifsbo.com/2008/09/24/can-you-do-a-short-sale-with-a-for-sale-by-owner-or-will-the-bank-require-a-realtor-as-one-point-of-contact/#comment-320 you are basically asking the buyers agent to do the sellers agents work, so they are going to commision themselves as a buyer and sellers agent. You need to have a agent work this for you bank will determine the commision so dont stress about that, but a seller agent will look out for your best interest. you are basically asking the buyers agent to do the sellers agents work, so they are going to commision themselves as a buyer and sellers agent. You need to have a agent work this for you bank will determine the commision so dont stress about that, but a seller agent will look out for your best interest.

]]> By: EDWARD B http://wikifsbo.com/2008/09/24/can-you-do-a-short-sale-with-a-for-sale-by-owner-or-will-the-bank-require-a-realtor-as-one-point-of-contact/comment-page-1/#comment-319 EDWARD B Fri, 26 Sep 2008 17:13:26 +0000 http://wikifsbo.com/2008/09/24/can-you-do-a-short-sale-with-a-for-sale-by-owner-or-will-the-bank-require-a-realtor-as-one-point-of-contact/#comment-319 If you sell by owner it will be your responsibility to go to the bank with a short sale offer. Most Realtors do not know how to do a short sale. So you have a choice, educate yourself on how to do a short sale or start looking for an agent that knows how to do a short sale. If you sell by owner it will be your responsibility to go to the bank with a short sale offer. Most Realtors do not know how to do a short sale. So you have a choice, educate yourself on how to do a short sale or start looking for an agent that knows how to do a short sale.

]]>