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Why You Should Leave While Your Home is Shown - 07/18/09 09:51 AM
Why You Should Leave While Your Home is Shown Copyright (c) 2009, Deanna & Jim's GOLD Team, RE/MAX Olympic Realty Your home is for sale. The phone rings. Someone is coming to see it! No, you should not stay to greet the prospective buyers and their agents. Go for a drive, go for a walk, make yourself scarce! Why? The answer lies in the way virtually all people raise their children. Well-mannered children are taught that if you go in a stranger's (or even an acquaintance's) house you do NOT go poking around in their private spaces without their invitation. (0 comments)
Homeowners unable to keep up their mortgage payments and ineligible for a loan modification frequently make the intelligent choice to sell their home as a short sale. This article explains how to maximize the showings and the offers for your short sale listed home. You need to think like a buyer's agent. There are many homes on the market and maybe not enough time to show them all. The easiest to show are - of course - the vacant bank-owned ones. Banks (0 comments)
"Pre-Approved" Short Sales - 07/17/09 08:07 AM
"Pre-Approved" Short Sales Copyright (c) 2009, Deanna & Jim's GOLD Team at RE/MAX Olympic
Homeowners challenged to continue paying their mortgages and ineligible for an adequate loan modification often choose to list their home for short sale rather than experience the consequences of foreclosure. Short sales notoriously take 60-90 days longer than normal transactions due to delays waiting for overloaded loan servicing staff to review what may be an excellent offer. From time to time buyers or their agents may discover "pre-approved" or "approved" short sale listings. This article explains the two major kinds of such listings and their potential (1 comments)
Detecting Short Sale Flips - 07/16/09 01:34 PM
Detecting Short Sale Flips Copyright (c) 2009 Deanna & Jim's GOLD Team, RE/MAX Olympic
Homeowners challenged to make their mortgage payments often consider selling their homes via short sales. It is our position that agents attempting to perform what is known as "short flips" are not performing their agency responsibilities. In particular we believe that short flips pose considerable risk for homeowners, buyers, agents involved and title companies involved. Short flips are easily detected as an agent proposing to have him/herself (or an entity he has an interest in) agree to purchase the home for cash within a certain (0 comments)
The owners of higher end potential short sale properties are targetted by certain real estate agents. The agents propose that the homeowner sign a purchase option contract giving the agent the exclusive right to purchase the property at a very substantial discount for, say, a year at a cash price while also giving the agent the right to list and sell the home to another buyer for a profit during that time. The agent persuades the seller to sign by explaining how they (1 comments)
Short Sale Second Lender Situations - 07/14/09 08:54 AM
Short Sale Second Lender Situations Copyright (c) 2009 Deanna & Jim's GOLD Team, RE/MAX Olympic Homeowners challenged to keep up with their mortgages due to changes in circumstances often elect to list their home as a short sale in order to prevent inevitable foreclosure. Short sales involving two banks are allegedly more challenging to complete. This article explains the situation and offers suggestions to both buyer and sellers considering such a transaction. Short sales are negotiated settlements where the sales contract between the buyer and the seller is contingent on approval by third parties - the existing holders of the first (4 comments)
Making a Clean Short Sale Offer - 07/13/09 08:12 PM
Making A Clean Short Sale Offer Copyright (c) 2009 Deanna & Jim's GOLD Team, RE/MAX Olympic Making an offer to purchase a property for short sale requires understanding that your offer will be evaluated weeks later by an overworked negotiator who is not generally inclined to be interested in unnecessarily complicated offer structures. Here are specific things important for the successful short sale buyer to consider: 1. Work with an experienced local agent who knows usual contract conventions in your area and who has already handled multiple successful short sale buyer transactions. 2. If you want a warranty don't ask the (0 comments)
Making the Short Sale Buying Process Manageable? - 07/13/09 07:55 PM
Making the Short Sale Buying Process Manageable? Copyright (c) 2009 Deanna & Jim's GOLD Team, RE/MAX Olympic Short sale listings offer temptingly low prices, often at or below the rest of the market in a given area. The lure of the low prices is offset by the legends of long-delayed and cancelled transactions, and the existence of some buyers and/or buyer's agents who will not even consider short sales. Attempting to purchase a short sale listing is not for everyone. Buyers with short to medium term calendar deadlines should not attempt a short sale purchase unless they have already worked out a (0 comments)
Manassas Foreclosures, Short Sales, Resales by Price Range - July 12, 2009 - 07/12/09 05:23 PM
Listed Manassas and Manassas Park Foreclosures, Short Sales, Resales by Price Range - July 12, 2009 Copyright (c) The GOLD Team, RE/MAX Olympic Realty Price Range Foreclosures Short Sales Resales Under $100K 54 142 154 $100-200K 97 357 394 $200-300K 25 137 176 $300-400K 19 50 115 $400-500K 5 19 50 Over $500K 4 16 53 All data from MRIS. (0 comments)
Homeowner Hazard of Short Sale Purchase Option Contracts - 07/10/09 11:25 AM
Homeowner Hazard of Short Sale Purchase Option Contracts Copyright(C) 2009 Deanna & Jim's GOLD Team RE/MAX Olympic Many homeowners find themselves challenged to make their mortgage payments, often due to circumstances beyond their control. If they are not eligible for a loan modification their next best option may often be listing their home for short sale. Those in this situation may be approached by opportunistic real estate agents seeking to directly or indirectly buy their home with an exclusive option to purchase contract. In reality these agents are attempting to perform what is known as a "short sale flip." Short sale (0 comments)
Some homeowners challenged to continue making their mortgage payments and unable to qualify for an adequate loan modification wisely choose to list their home for short sale rather than suffer foreclosure. The key requirement for a short sale is that a satisfactory contract be placed in front of the lendors contemplating foreclosure before they complete the foreclosure process. Lendors will generally only consider offers produced as a result of listing the house in the local MLS with a licensed real estate agent. Once an offer (0 comments)
Typical time for a successful short sale transaction in Prince William County will be 40-45 days for the bank to approve the deal and 30 days for buyer to get it closed once approval is received. The 40-45 days begins once the listing agent submits the listing contract, ratified sales contract, preliminary HUD-1, and seller hardship package to the bank. From the time the seller accepts the buyer's offer it will typically take a day or two to get the preliminary HUD-1. Seller may (0 comments)
Master negotiators: 550+ transactions last 12 years. 150+ bank-owned transactions 2007-13. Short sales listed, under contract, and buyer offers pending. First time buyer & investor specialists. MBA, MSE, MA Psychology.
Disclaimer: ActiveRain Corp. does not necessarily endorse the real estate agents, loan officers and brokers listed on this site. These real estate profiles, blogs and blog entries are provided here as a courtesy to our visitors to help them make an informed decision when buying or selling a house. ActiveRain Corp. takes no responsibility for the content in these profiles, that are written by the members of this community.