This post is Part 2 of the series of: If you own an FHA or HUD insured home and you are desiring to request a short sale of your home, there are specific requirements that must be met.  I have worked with a number of homeowner’s in selling their FHA insured home and before listing their home for sale, we discuss the guidelines that I know FHA is going to require be met by my homeowner Sellers.  

I am going to provide some of the FHA and/or HUD insured guidelines for a short sale over the course of several posts and try to give examples of facts that might fit the requirements.  The second that I want to discuss is the requirement that the home must be listed with a real estate agent that is not related to you.

Be careful when choosing your real estate agent that you choose not only an agent that is experienced with successfully selling short sales, familiar with your market area, but that is not your cousin, sister-in-law or other relation.  The goal is to reflect an “arm’s length” transaction every step of the way.

Each situation will be specific to the individual homeowner.  But, overall, it is important to be aware that one of the requirements for a FHA and/or HUD insured short sale, is that your home listed with a real estate agent that is not related to you. 

If you don’t know what to do if  you are falling behind on your mortgage payments or you are currently facing foreclosure of your Kansas City home, Kansas or Missouri, please continue to read the upcoming posts and Request a Free Confidential, no obligation, analysis of your home and options that may be available to you to help reduce the burden you may have.

(There are potential tax consequences that should be discussed with a tax professional.  Please do not interpret this information as providing legal, tax or other professional advice which you should seek independently.)
(Image courtesy jscreationz/FreeDigitalPhotos.net) 

About the Author:

Suzanne Hinton
Hinton Group-Affiliated with ReMax Premier Realty
Voted 5 Star Best in Customer Satisfaction Real Estate Agent
Phone: 816-520-0917
Email: shinton@remax.net
shortsellingyourkansascityhome

©2011 Suzanne Hinton-Hinton Homes-Kansas City Short Sale Realtor
Kansas City Short Sales

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