Brokerage Reminder: Bone up on property profiles
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After hours of gathering information on a property to prepare a comparative market analysis (CMA) and contracts, you arrive at your listing appointment confident about your presentation. Halfway through your presentation, the seller asks you if they need to pay off the previously undisclosed home equity line of credit (HELOC) they took out against the property a few years ago. In a second, your potential listing goes from netting your sellers substantial cash to having little or no seller net proceeds. The question now is: How could you have avoided being surprised by this last-minute deal breaker?
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About The Author
Fernando Nunez
is first tuesday's in-house Broker Consultant. Fernando has over 20 years' experience in California real estate, including the single family residence sales, mortgage loan origination, investment properties and commercial leasing. Fernando assists the editorial staff with real estate writings and writes first tuesday's weekly Brokerage Reminder series.
