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foreclosure: Short Sales Part 3 - 01/23/08 10:37 PM
THE BROKER’S PRICE OPINION:Once the Lender has received the short sale application, the next phase of the approval process is the Lender’s independent verification of the value of the home based upon its condition and market conditions in the neighborhood in which the subject property is located.  This is usually accomplished through the Lender or an agent of the Lender contacting a licensed real estate broker’s office requesting a “broker’s price opinion”.   This is the critical phase of the entire transaction.  If the Broker’s price opinion values the property higher than you have sold the property, the Lender may deny the … (1 comments)

foreclosure: Short Sales - Attorney Advice to Realtors - 01/22/08 10:48 PM
PART 2 Crunching the Numbers and Gathering Information:
This second section of the series describes the necessity of crunching numbers and gathering accurate information from the Seller in order to properly market the property and prepare for the short sale negotiation ----
WORKING WITH DEBTORS:Many times people who are in debt lose track of all of the bills that they owe, many of which effect the proceeds of the sale of their property.  It is important that the Realtor is aware of the mortgages on the property, along with any other liens.  In addition to mortgages and liens that are on record … (6 comments)

foreclosure: Short Sales - Advice from an attorney to realtors - 01/19/08 06:00 PM
SHORT SALES FOR THE REALTORa three part seriesby Attorney Nyles L. CourchesnePART 1 Getting Familiar With Short Sales:
This first section of the series describes the basic definition of a short sale, the motivations of the Seller and Lender in negotiating a short sale and the basic steps that need to be taken when a realtor works with a Seller who needs to accept offers that are lower than the amount necessary to transfer the Seller’s property free and clear of all liens and costs ----SHORT SALES DEFINED
Short sales are sales in which the total amount owed by a Seller (including … (5 comments)

 
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Nyles Courchesne Massachusetts Real Estate Attorney

Springfield, MA

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Peskin, Courchesne and Allen, P.C.

Address: 101 State Street, Suite #401, Springfield, MA, 01103

Office Phone: (413) 734-1002

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