Realtor Eagle ID: What Is a Short Sale Realtor?

A short sale realtor is the type of real estate agent that will work with a homeowner in order to prevent their home from being foreclosed on. In order for a person to be registered as a Realtor Eagle ID they must have a membership with the National Association of Realtors. It is important for you to keep in mind that not every real estate agent is going to be qualified to use the title realtor.

The phrase short sale just means that you are going to buy a piece of real estate from a lender for less than what the remaining mortgage amount is. For example, if you owed $100,000 on your home and you cannot afford to continue to pay your mortgage you could hire a short sale realtor to find someone to purchase the home for less than that amount. It is up to the lender to decide whether or not they want to accept the short sale offer.

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A short sale realtor can double as a broker, an attorney, a real estate agent, or an investor that focuses on short sales. The Realtor Eagle ID is going to start by meeting with the homeowner in order to discuss their plan of action. This is also when the realtor is going to look over your mortgage paperwork and compare the value of your home to other homes in the neighborhood. Next, the realtor in Eagle ID is going to write a letter of hardship and address it to your lender. The purpose of this letter is to describe why you are unable to continue to make mortgage payments. Reasons can include things such as a family illness, getting fired, or even a death in the family. This letter must be accompanied with financial paperwork stating how much income the homeowner makes and pays out each month.

The sooner you make contact the sooner you can work with a real estate agent to figure out what your next move should be.

 

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