Here’s a list of questions your listing agent will ask.
If you are seeking a short sale you will need to list your home with a professional REALTOR®. Your Lender will no doubt require it. In preparation for the discussion with your agent here’s a list of questions he/she will probably ask.
You can save a lot of time by having your answers ready.
- Do you have a mortgage on the property?
- What is the balance?
- Who is the lender?
- Is it FHA, VA, or FNMA? Don’t know?
- Do you have Private Mortgage Insurance (PMI)? With whom?
- Is there a second mortgage?
- Do you have a HELOC (Home Equity Line of Credit)? Balance?
- Are you current on all your payments?
- If not, when was the date of your last payment?
- What is the situation that caused you to miss your payments? Or, what will cause you to miss payments?
- Have you spoken with anyone at your Lender’s office?
- What is their name? Contact info?
- What was discussed?
- Are you current with your HOA fees?
- If not, what was the date of your last payment?
- Association name and contact info:
- Are your real estate taxes escrowed?
- Are your real estate taxes current?
- Is there any legal action pending agains the property?
- Have you received any legal notices?
- Have you been notified of a foreclosure sale date?
- Have you filed or do you intend to file bankruptcy?
- Are there any other liens that could affect the sale?
- HOA liens
- IRS tax liens
- Mechanics’ liens
- Other
- Are there any utilities bills that have not been paid?
- Whose names are on the title to the property?
You may feel a bit uncomfortable discussing your situation and these questions with someone you’ve just met. Take comfort in knowing that your REALTOR® will treat everything you say with strict confidentiality and will act as a fiduciary. The questions will help your agent make the process as smooth as possible.
