There are good people in this business and there are predators. When you're stressed about your home, it can be hard to tell them apart. These seven questions will help. Ask them of anyone you're considering, us included.
1. Do you charge any upfront fees? The right answer is no. In a legitimate short sale, the company is paid by the lender out of the sale. Anyone asking for money before they've done anything is a red flag.
2. Are you licensed, and where? You want real names, a licensed real estate brokerage, and license numbers you can look up. Vague titles and initials aren't enough.
3. Will I owe anything after the sale? A good advisor talks openly about deficiency and how they work to get it waived in writing. If they dodge this, be careful.
4. What are the tax implications for me? Cancelled debt can sometimes be treated as income. An honest company will raise this and point you to a tax professional rather than wave it off.
5. Should I stop talking to my lender? The right answer is no. Anyone who tells you to cut off your lender, or to send your payments to them instead, is a serious warning sign.
6. What happens if a short sale isn't my best option? A trustworthy advisor will tell you when something else fits better, even if it means they don't earn anything.
7. Can I speak to past clients or see reviews? Real companies can point to real homeowners they've helped.
If a company stumbles on these, trust your gut and keep looking. And if you want to ask us all seven, please do. We'd rather you feel sure than rushed.
A free, confidential consultation is the simplest way to understand your options. No cost, no pressure.
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