I have been on several short sale appointments lately where agents have been promising upside down sellers specific results in a short sale.
An agent can never promise an outcome from a bank in a short sale.
As a seller be wary of any short sale negotiator or agent that promises a specific result. There is no way someone can predict the outcome of a bank. It is entirely the bank/ investors who decide what they will offer a seller in a short sale.
Even if one short sale went well with a particular bank in the past, this does not indicate a future result. Every deal is different and their are many different parties involved. Many time you will find a big name bank as the servicer of a loan with an unknown investor behind the loan. Each investor will have its own policies of how they handle a short sale.
It is very important to work with a short sale agent that has your best interest at heart and will be honest and up front with you. Do your research on a potential agent to see if they have the experience and track record to provide you with the best results possible.
More short sale resources:
Looking at a potential foreclosure? Find out what your options are to losing your home to the bank…..more on Massachusetts Short Sales
Free eBook “Should I Short Sale My Home”