Special offer

Mesquite NV Short Sales and Pre - Foreclosures

Reblogger Virginia Hepp - Mesquite NV REALTOR
Real Estate Agent with Desert Gold Realty - Mesquite NV Homes For Sale DRE# S.0072173

There are many requirements to successful short sales - also known as pre-foreclosures. If you are thinking of selling your Mesquite NV home as a short sale, get ready to answer a lot of questions from your real estate agent.  This is a list of things that you need to know or find out before you think about listing your home.  Your real estate agent will be asking you.

You may want to compare your home to other short sales and foreclosures in Mesquite.

Wendy Rulnick is a renowned short sale agent in Destin Florida and the Emerald Coast and one of the experts who contribute on the ShortSaleSuperStars website. 

Thanks, Wendy, for another excellent article, 21 Questions to Ask the Short Sale Seller:

 

Original content by Wendy Rulnick

 Listing Short Sale 

 

 

Quick!  A potential short sale seller calls you to list his propertyWhat questions do you ask?  Here are a few to start the conversation....

1.       Who are the mortgage holders on your property?

2.       Approximate balances?

3.       Is your loan VA or FHA/HUD? 

4.       Do you have a hardship?  If so, what caused it?

5.       Would you prefer to keep the property?

6.       Have you tried a loan modification or other type of work-out?  If so, what was the outcome?

7.       If FHA/HUD - have you started any pre-foreclosure sale paperwork with your lender?

8.       Have you applied for the HAFA program?

9.       Have you consulted an attorney?

10.    Why do you want to short sale?

11.    Do you or have you ever occupied the property?

12.    Are your payments current?  If not, how many months have you missed?

13.    Do you have enough income to pay your all your monthly debt?

14.    If you are current on your payments, where are the funds coming from - savings or some other source?

15.    Are you current on association fees?

16.    Do you have other liens or judgments?

17.    Have you had a foreclosure notice yet?

18.    Who else is named on the mortgage or deed? 

19.    Do you have funds to contribute if asked by your lender to approve the short sale?

20.    Would you agree to pay a promissory note if asked?

21.     What questions do you have for me? Short Sale Superstars

For other tips on short sales, check out www.ShortSaleSuperstars.com.  There are almost 5000 members sharing information to help each other succeed with short sales.  Find out how to list them, how to sell them, how to save your sales and how to speed up your approval times.

Join www.ShortSaleSuperstars.com today- it's FREE!

It's Wendy!

Wendy Rulnick, Broker, Rulnick Realty, Inc.

REGrow, LLC

Call toll-free 1-877-ITS-WNDY (1-877-487-9639) or local 850-650-7883 ext 204

Email Wendy: itswendy@rulnickrealty.com

 

                                                                                                  Facebook WendyRulnick   Wendy Rulnick Twitter  Wendy Rulnick Blog Feed

Comments(11)

Rebecca Nystrom
RE/MAX Renaissance - Phoenix, AZ

Thanks for reposting, I missed this the first time around.  Great questions.

Nov 23, 2010 04:08 PM
Jon Quist
REALTY EXECUTIVES ARIZONA TERRITORY - Tucson, AZ
Tucson's BUYERS ONLY Realtor since 1996

Sorry, but your statement about short sales also being called pre-foreclosures caught my eye. I've been calling short sales that for years. Foreclosures just waiting to happen.

Nov 23, 2010 04:49 PM
Virginia Hepp - Mesquite NV REALTOR
Desert Gold Realty - Mesquite NV Homes For Sale - Mesquite, NV
Mesquite NV Homes and Neighborhoods - Search MLS

Rebecca - They are excellent questions for agents to ask - Wendy is so good.

Jon - Me too!!  That is what happens to short sales that don't close.  I think I originally got that expression from Wendy Rulnick, as well - I read her posts constantly to stay on top of things.

Nov 23, 2010 04:57 PM
Gary L. Waters Broker Associate, Bucci Realty
Bucci Realty, Inc. - Melbourne, FL
Eighteen Years Experience in Brevard County

This is a great list of questions. I think I need to bookmark this one. Thanks.

Nov 23, 2010 11:28 PM
Wendy Rulnick
Rulnick Realty, Inc. - Destin, FL
"It's Wendy... It's Sold!"

Virginia - Thank you for the kind re-blog!

Nov 24, 2010 02:23 AM
Virginia Hepp - Mesquite NV REALTOR
Desert Gold Realty - Mesquite NV Homes For Sale - Mesquite, NV
Mesquite NV Homes and Neighborhoods - Search MLS

Gary, I saved the link to email to people who ask me about short sales - good info for buyers and sellers.

Wendy - Thank you for writing it and allowing a reblog.

Nov 25, 2010 03:19 PM
Renée Donohue~Home Photography
Savvy Home Pix - Allegan, MI
Western Michigan Real Estate Photographer

Great reblog!  Unfortunately I wish we (as buyer's agents) could know those answers also!

Nov 26, 2010 09:18 AM
Erika Rogers
Red Rock Real Estate ~ Southern Utah's Largest Independent Brokerage - Saint George, UT
St George Utah Real Estate & Relocation Specialist

Hi Virginia, Nice reblog, good information for anyone considering a short sale.  I'm definitely keeping it for future reference!

Nov 26, 2010 03:20 PM
Virginia Hepp - Mesquite NV REALTOR
Desert Gold Realty - Mesquite NV Homes For Sale - Mesquite, NV
Mesquite NV Homes and Neighborhoods - Search MLS

Renee - and sad that so many short sale listing agents do not ask the sellers these questions.

Erika - sellers need to know the answers to these questions - without an experienced agent to help them, foreclosure is right around the corner.

Nov 28, 2010 06:41 AM
Not a real person
San Diego, CA

Best wishes for lots of fun and food with family and friends today. Hope Santa brought you some cool toys, too!

 

Happy Holidays!

Dec 25, 2010 05:31 AM
Renée Donohue~Home Photography
Savvy Home Pix - Allegan, MI
Western Michigan Real Estate Photographer

Virginia - no they do not and it makes it tough for buyers to make decisions on sticking it out in a short sale or not!

Dec 29, 2010 04:38 AM