Real Estate Short Sale and Foreclosure Certification
The National Association of Realtors has introduced a new certification system designed to make sure real estate agents get more training in foreclosure sales and short sales. Called “Short Sales & Foreclosure Resource”, the program is being offered because recent member surveys have shown that these types of properties make up more than one-third of all home sales nation-wide. A real estate agent can’t afford not to be comfortable with the process.
Many real estate agents have had to do with on-the-fly, on-the-job training through experience with these types of sales. They all require more paperwork than a regular home sale and more patience, but they’re not impossible. Private companies often offer training programs and certification labels to show clients that an agent has ‘official’ skills in the ‘distressed’ property field.
Sellers forced into a foreclosure and/or a short sale are often panicky and more difficult to deal with, but they need to keep in mind that they can stary in their homes for quite some time. Receiving a notice from the bank does not necessarily mean you have to move out right away. The bank doesn’t own a home until it has been officially foreclosed, a long and difficult process.
In this window, a skilled real estate agent can intervene and get the ball rolling on a shortsale instead. The seller must prove financial hardship, but it is not impossible.
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