Requirements - Sellers
What is required financially before we put the home on the market?
Once we have signed a listing agreement, I will need the you to provide financial information that details the current balance on the home's note or mortgage. This is required to ensure that there is enough equity in the home to be able to put it on the market and sell it. More specifically, this evaluation ensures that Realtor fees will be paid, the bank will be paid and that the title company gets paid.
It is my responsibility to ensure the transaction as the listing agent.
For this reason, listing agents require the seller to provide documentation and sign an Estimated Proceeds page along with a REQUEST FOR MORTGAGE INFORMATION form that authorizes me to contact your bank to verify the loan balance and current payment information.