Jeff Star's Discussions

I agree with Robert, make sure your agent has closed several short sales and not just say they did, try to get some proof. Agents love to say they have done this and that when they really haven't done anything.  A short sale is a process depending on the bank that will take sometime usually 90 days from start to finish.  But don't quote me on that because every deal is different due to the investor. You will be tied up with that agent for awhile so you want to make sure they know what they're doing.

Michelle Quackenbush is absolutely right, save your credit with a short sale.  Foreclosure kills your credit, within 6 month after a short sale your score will be higher then before the sale as long as all other credit has been paid on time. Reason for this is it just lowered your debt to income ratio which looks better on your credit report.  You still won't be able to buy a home for 2 years, but that beats 7 years.[content removed by moderator for being self promotional]

Agents stop cutting your fee next you'll be doing it for free.  Never go lower then 5%.  Always pay a buyers agent 3%.  4.5% total is not realistic there is to much work an cost involved to be listing a house for 1.5%.  I guess if your desparate for work you'll do it for next to nothing.  People look at it as you get what you pay for.  You want a cheap listing pay a cheap price.  Discount listers hurt our business.