Real estate blog entries tagged with buying short sales

Blog entries tagged with "buying short sales":

buying short sales: "Sly" Short Sale Buyer - A Cautionary Tale - 11/23/08 11:49 AM

My story takes place in Destin, Florida. I have modified parts ever so slightly to protect identities, but I write this as a cautionary tale for short sale listing agents and short sale sellers.
I received an offer on one of my Destin FL short sale listings. It was a well-done … (8 comments)

buying short sales: Who Else Wants to Buy a Short Sale? - 10/22/08 02:29 PM

At my office meeting this morning, an REO agent said Countrywide's stats are showing 1 out of every 5 short sales are successful. Then, other agents expressed concerns over closing a short sale, and some mentioned that they deliberately eliminate short-sale listings from their buyer's daily emails of new listings.
In … (18 comments)

buying short sales: How "Not" To Buy A Short Sale - 08/13/08 03:02 AM

Yesterday I received an offer on a Short Sale listing in Destin Florida. The list price was $216,000, a bit below market, and the house had been for sale for over five months. An agent produced an offer for $175,000 and it was contingent on seller's lender approval within 45 days. It also stated "The … (84 comments)

buying short sales: Short Sales in Wichita, KS - Two Success Stories! - 07/25/08 02:11 PM

Everyone's heard the horror stories - Short Sales are iffy, 50% get denied, etc. And yes, they are iffy. But when you can make them work, it's the best thing for everyone.
The sellers don't get foreclosed on. The buyers get a bit of a deal. The one thing you absolutely … (5 comments)

buying short sales: Basic Short Sale Tips | The Short Version - 06/17/08 09:44 AM

Just a few general tips for agents, buyers and sellers regarding listing, making offers and contracting to purchase short sale properties. Most of this is standard stuff, but I have found that many buyers, sellers and agents are not aware of the particulars of a short sale.
Remember that each lender … (4 comments)

buying short sales: Up Since 6:30am on Saturday - 05/17/08 05:20 PM

My dedication to my fellow agents is a strong one. I am not a morning person. I wake up around 8:30am and that's early. I spend the first half of every work day in my "jammies" in the home office. But today was a red letter day.

I woke up … (4 comments)

buying short sales: Important information about Buying a Short Sale - How to make an offer and get it accepted on a Short Sale or Short Pay in California - 05/04/08 01:19 PM

It is Important that you Understand what is happening on the other side of a short sale or short pay when you are considering making an offer on a home in this situation.
Read This First - And then come back and finish this article.
Ok, welcome back. I want to give you … (0 comments)

buying short sales: When the Going Gets Tough...What Does Your Agent Do? - 04/09/08 08:18 PM

As per usual for the second Wednesday of the month, I attended my local associations Education Committee meeting. I've been working on developing a short sale class to help listing and buying agents understand their role in a smooth short sale transaction. I must say, I'm getting tired of the attitude … (7 comments)

buying short sales: Short Sales: For Buyer's Agents - 03/12/08 05:18 PM

Are you the selling agent in a Short Sale market? Arm yourself with information for a successful transaction:
1. Prepare your buyer by going over steps in Buying Short Sales.
2. Ask the listing agent if he has gathered the information necessary to submit the Short Sale package, including: letter of authorization, financial statement, … (10 comments)

buying short sales: Short Sales Guru...REO's - 02/28/08 06:17 AM

Selling your home "short" or as a Short Sale will end a bad nightmare for most. It is a way to escape the nasty phone calls from your current lender if you are behind on your mortgage payments. It is a way to get a fresh start away from a bad loan or … (4 comments)

buying short sales: Buying Short Sales - 02/17/08 11:59 AM

Buying a Short Sale? What is the Process?
When you write your offer for a Short Sale, your agent should insert language into the contract that states the contract is "Contingent on seller's mortgage holders' approval". Often, lenders require Short Sale properties to be sold in "as is" condition, thus not … (14 comments)

buying short sales: Why Buying Short Sales is Better than Buying Foreclosures - 02/05/08 11:13 PM

There may never be a better opportunity to buy a home or an investment property in San Jose. Prices have dropped by 25% from their peaks in some market areas and there may still be another 15% of negotiating room left on the table for buyers who are willing to tolerate … (1 comments)

buying short sales: Short Sales 411 - 11/28/07 03:54 AM

I used to work for one of the Top Mortgage Servicers in the Country. In my six year venture, I worked in many departments: Foreclosure, Collections, Loss Mitigation & REO. (I have complete ADD, I got bored very quickly)
I have been selling real estate for the past 5 years. We all know … (5 comments)