What are some of the mortgage specific questions a seller may be asked by a prospective listing agent?
But it is very important to know some basic information about a prospective seller's mortgage such as:
- Is there a mortgage?
- Is there more than one mortgage (a second/home equity line)?
- Is your mortgage current?
- If not, how far are you behind with your payments?
- Have you received a lis pendens (notice of pending action like foreclosure)? [Notice: I am not an attorney.]
- Who is your lender?
- What is your mortgage balance?
- Are there other liens on your property?
These mortgage questions, along with a few others during the pre-listing interview, will help your agent understand whether there is a "need to sell" or just a "want to sell." If there is a required break even number a seller must receive then your agent needs to be able to determine if there is even a possibility of making it in the current market.
So when I ask you about your mortgage (and related questions) it is not to be intrusive but to better formulate a plan of action.
Ready to sell your Viera or Melbourne, Florida home?