December 03, 2020 at 10:36am | John McLain

Experience! The NJ Short Sale Agent's top Priority

Searching for your first Short Sale property to purchase the NJ Real Estate Agent is Important.  It is best to remember the three main qualities they should have: Experience, Good Reputation, and Local Expertise.  The short sale process could take as much as five to six times the amount of work, compared to a regular transaction.  That is why the importance to make sure your NJ Short Sale Agent would know all of the ins and outs of the processes and how to make it easiest for you.

Specialized real estate agents in the short sale process can help you sell your home with the least amount of hassle. Understanding how to close short sales successfully, and quickly, is the top trait an experienced short sale agent should have. Transactions are not always the same. In fact, one transaction will not be the same as the other short sale. There are several expertise required.
Regardless, without an expert short sales agent, getting the property to close with a clean title successfully with clean title would be extremely difficult. Importantly, working with a short sale agent is imperative. The agent must understand the various expectations from banks and lenders alike. Experienced Agents know the exact package to put together for each bank involved in the transaction. The amount of time decreases exponentially.
Furthermore, expectations from Wells Fargo or Chase could be extremely different than what Bank of America would require.   For example, expectations from Chase or Wells Fargo could be very different than what Bank of America would require.  It is a bad idea, for a homeowner to negotiate on their behalf.  Buyers, Homeowners, and Investors should be open to hiring a Short Sale Negotiator/Professional.  Avoiding frustrations and increasing customer service is what comes out of hiring a Short Sale Specialist.  Many Short Sale Agents may have a certificate, but it is the professional that has completed many transactions that have top priority.

An Agent with a Good Reputation

Agents that value their reputation should make a personal commitment towards the short sale industry.  A good name in serving the best interests of the buyers and sellers is of upmost importance.  Seek a Short Sale Agent that is dedicated to their craft.  Furthermore, they should also be seeking to do more short sale business while maintaining a high rate of sales closed.  It is best to check reviews, social media, sales success rates, and even be open to calling past clients.
The total duration of the short sale process would depend on the strategy or system that your short sale agent would use.  Make notes that you would be spending time with this agent throughout the entire process.  Therefore it is best to hire someone who would always keep you in the loop throughout the process.  They should answer your queries from time to time and give you the best experience in closing out the short sale transaction.

Local Expertise

A good reputation also gives authority to short sale agents.  Because, they know the ins and outs of the communities and real estate market, making it easier for potential buyers and sellers alike.  Also, the agents know the competition, bank expectations, and the processes that would lead to a quick short sale completion.  Knowing you are dealing with an agent whose focus is on specific locations will give you the assurance in getting the deal done.  These include staying on top of insider information on what to expect within the community once you've purchased a property on a short sale.  You may even be provided with better options within the neighborhood courtesy of your trusted short sale agent.
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