If you are a borrower who is not being able to pay up and needs to go for a short sale, chances are that numerous doubts and questions are running in your mind. One of these pressing questions would surely be whether to list your Washington DC home for sale or not. You might be worrying about the chaos and the pain of the entire thing in case the short sale doesn’t go through at all. But this is exactly where the importance of your realtor comes into play since he is the right guy to communicate and promote the fact that a great deal can be made by a buyer during this time.

Always remember that your main focus during this time should be on your credit score. If you need to go for a short sale, it means that you have not been able to pay up and are acting by a way to avoid foreclosure proceedings. That being the case, the fact remains that your credit score has already taken a hit and all your actions should focus on how to defend your credit score. Your realtor is a person who will facilitate you in setting such goals so that your credit score can be defended in the best way possible.

What you need is an advocate, a Washington DC realtor who is going to be: first, thoughtful on your behalf; second, who is going to be tenacious; and third, who is persuasive. These are the traits that you ought to be looking for in a realtor for him to be able to help you pull through the process of short sale.

The first in the list is the thoughtfulness of the Washington DC realtor. Needless to say the seller is in the difficult point of his/her life. He/she needs someone who would offer some relief and comfort by providing a way out. This is a person who could be totally relied upon in this vulnerable point, and who act as counselor.

Secondly the realtor must be able to convince the bank that authorizing a short sale is the right move. Persuading the bank is an important primary step towards the resolution of the financial problems of the seller.

The realtor should be persistent in dealing with the bank. He/she would not hesitate to pick up the phone and the call the bank for numerous times. This person would stop at nothing in figuring out how to penetrate the bureaucracy and made sure that the seller’s interest is addressed. Other than persuasiveness the realtor must be tenacious to successfully pursue the short sale.

The short sale process functions to get the loan burden off the seller’s shoulder. Thus the seller needs to be someone who is driven by this goal and who is willing to fight. A realtor who clearly understands the ins and outs of the short sale and who would deliver result not just promises.

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I continually grapple with questions regarding the necessity of pre-approval letter in the purchasing process. It is important that the buyer knows necessary information on the pre-approval letter and why it is necessary, how is it obtained and the comparison between pre-approval letter with the ultimate final approvals and loan commitment letters.

Pre-approval refers to the process of ensuring that the buyer could get a loan of a certain amount through approaching the lender. Basically the pre-approval letter would certify that the buyer could be granted with a loan and eligible to purchase a Washington DC home. With this insurance the buyer could be recognize as serious in going a step further with the transaction.

The seller is presenting everything into the open by advertising the Washington DC home, offering a lot of transparency and letting the prospective buyer know that they could take a closer look into the house. The buyer, on the other hand, is not that visible to the seller. Consider an analogy where the executive manager has inadequate or even has no knowledge on the personal information and abilities of the entire employees. Similarly the seller has no information regarding the buyers. From the seller’s perspective, here he’s/she’s thinking “Who’s this person that wants to be under contract with me to tie up my house and take it off the market? And how can I know that it’s worth taking a chance on this person, on these people?” This is where the necessity of the pre-approval letter comes in. It is enclosed with a contract to ensure and demonstrate to the seller that buyer is worthy of going forward at the price point in question.

The role of the pre-approval letter has been properly entrenched, and probably the next question in buyer’s mind is how to obtain it. In order to obtain a pre-approval letter, essentially the buyer needs to spend some time on the phone or online with a lender, loan officer, and allow that person to run his/her credit. This would probably only take 10 minutes. The buyer then proceeds with providing the lender/ loan officers with accurate personal information and data. Now, the lender is going to take that information at face value. If the buyer mentioned earning a certain amount then they are going to trust so far, for the purpose of generating the pre-approval letter typically.

Most buyers come across the misconception that pre-approval is similar to final approval, since there is only a fine line for its distinction. In the final approval the information has been provided, documented and verified by the lender. It is in the phase of underwriting. Final approval represents the process of eliciting loan commitment from the buyer.

The buyer should always take into account the perspective of the seller. The seller doesn’t have a lot of visibility and idea of how capable a buyer is in purchasing the Washington DC home. The pre-approval letter would serve as a means of presenting that the buyer is indeed interested, capable and worth taking a risk.

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Let’s go through the characteristics that the buyer agent should possess. The buyer agent plays a significant role in acquiring the most suitable Washington DC home with the best price and best term. This third party is mainly involved in negotiations and transactions. The buyer needs every assistance he/she could get for the possible biggest purchase he/she came across.

Integrity fell into the top spot of his list. This pertains to the agent’s ability to adhere to legal and ethical laws in promoting the interest of the buyer. Trustworthiness comes next. Buyers need someone they could trust in carrying out this important purchase that would put his/her money on the line. The agent has the responsibility of guiding the buyer through a very important purchasing process. Remember that this is the person who should be able to give the buyer good, honest information and timely guidance. The buyer does not only have to possess good character traits but also the skill in the sealing the best deal. An agent must be willing to dedicate a lot of time and energy. The buyer must be the priority in any sense.

Nowadays real estates are advertised through the internet. Buyers opt to scout properties online. The buyer agent is responsible for finding as well as evaluating these properties. The buyer should have someone who is consultative and who can evaluate the opportunity in front of them. The process of buying involves understanding the distinction, facing certain compromises, making hard decisions, and making sure that the buyer gets all that he/she want and hopefully a good bit of what he/she would like to have but that wasn’t an absolute requirement. This is a person who’s consultative, who isn’t thinking about trying to sell a Washington DC home, but rather, trying to discern the buyer’s requirements. The buyer is entitled to have a house that would address all their needs.

It should be noted that the buyer agent is not a sales person. Even though they are often regarded as “licensed sales people” they function beyond that. The buyer agent is distinct because he/she is mainly concern with the satisfaction of the buyer. This is a consultant who endlessly listens and assesses the true needs of the buyer. Needs analysis, and testing the buyers’ assumption for the best suitable house are constantly practiced to seek the best bargain in the market.

The buyer could save an extra dime and time with the right real estate buyer agent. It would be beneficial to consider personality of the agent, the area in which to look for a house and the necessary expertise of the agent. These are the factors that would lead to the best deal according.

Learn more about Washington DC homes. Stop by Carlos Garcia’s site where you can find out all about Washington DC Homes and Realtors and what they can do for you.