P.S.
You can check bbb search about the name of the company this agent associated with you will be suprised to know how bbb search can help you in making your decision in hiring agents, workers, companies. etc. Some of the real estate brokers and company's are rated F. This company that is rated F is one of the largest real estate in Riverside. Be careful, don't just hire someone, check for references, there's a lot of CROOKS there.
You can check the prices in your area check realtors.com or zillow.com, put your zip code. Once you find out the selling price, then you have to beat that selling price by lowering your price to attract a buyer. For example,
the selling price is $379k you have to lower that amount to $370k to attract a buyer.
A good real estate agent who has expertise in doing Short Sale knows what to do. You have to interview your agent and ask if he knows Short Sale if not, say thank you for your time. My agent made a flyer with a note stating Short Sale for $290k Pending Approval of the Lender. Once your agent get a buyer, he will then represent your buyers agent, and the Short Sale package to your lender. You will give a letter authorizing your agent to talk to your negotiator. Your negotiator will order a BPO or Broker Price Opinion and then your agent and your negotiator will negotiate back and forth. From what I know, the lender will accept an offer of 90% of the fair market value, say the BPO was appraised at $350k, 90% of that is $315k. Note that without a buyer, no short sale.
You have to have patience, strong and persistent to have a successful short sale.
God bless you and take care.
Faith
