Find Out What Questions to Ask Short Sale Buyer Agents

For a short sale to happen successfully, the agents need to undergo a series of questioning. These are to make sure everything runs out smoothly without any future complications. Unfortunately, few of the short sale agents usually remember to question the buyer agents. If you are a short sale agent and manage to qualify a buyer agent in a short sale transaction, that is very imperative.

In any general short sale, it comprises of two agents. These will include buyer agents, and a listing type of agent. Listing agent is the one representing the seller, where   buyer agents are the ones representing the buyer. If you are buyer agents, you need to understand all what is involved when it comes to short sale, and as well understand that it requires lot of patience.   There are a number of questions, which you need to ask the buyer agents.  They include questions like:

How Long Is The Buyer Willing To Wait For The Short Sale Approval?

When it comes to short sale, the approval may take a while that is between four week to even four months. There are others short sale, which take even longer time. This means that if the buyer is not able to wait you can either advise them to buy that home, which is not on short sale.

How Many Of The Short Sale Has The Buyer Been Able To Close?

You need to find out how many of the short sale has the buyer agent you are working with has been able to close. If there is a good record of that, it definitely means that they have experience to manage any of the real estate property buyer expectations. This also means that, he/she is an experienced agent and will definitely help them to close the deal.

If They Will Agree Not To Write Any, More Offers The Buyer

For the buyer you must be able to agree with the seller not to counsel any outstanding offer. These means that they must be able to wait for that home they want.

You Need To Ask The Buyer If They Are Willing To Release The Earnest Money Deposit

It is always advisable to make this clear with your buyer. This is because most buyers do not like to release this kind of earnest deposit. They may end up holding it so it is advisable you get clarity first

Ask If They Have Applicable Letter Bearing The Current Day

Beware of agents who submit check-baring date which are dated months or weeks earlier that that time of the initial contract. This is really a trouble sign. This may lead to the bank contacting the short sale term this as a preapproval expired letter, which at times mean it cannot be approved. If you have this entire question ready with you at hand, you will be able to contact a short sale in a very effective manner.

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