Robert McArtor with Long and Foster Real Estate, Inc. Short sales in Maryland have proliferated only in the last few years, so it may be hard to find practitioners who have closed a lot of short sales. You want to work with Robert McArtor who demonstrates a thorough working knowledge of the short-sale process and will not try to take advantage of your situation or pressure you to do something that isn't in your best interest.
When you Hire Robert McArtor with Long and Foster Real Estate, Inc. He will:
· Provide you with a comparative market analysis (CMA) or broker price opinion (BPO).
· Help you set an appropriate listing price for your home, market the home, and get it sold.
· Put special language in the MLS that indicates your home in Maryland is a short sale and that lender approval is needed (all MLSs permit, and some now require, that the short-sale status be disclosed to potential buyers).
· Ease the process of working with your lender or lenders.
· Negotiate the contract with the buyers.
· Help you put together the short-sale package to send to your lender (or lenders, if you have more than one mortgage) for approval. You can't sell your home without your lender and any other lien holders agreeing to the sale and releasing the lien so that the buyers can get clear title.
Now, how to write the FINANCIAL HARDSHIP LETTER
This is a very important part of the package we will be sending to your lender. The bank/negotiator has to understand and appreciate the financial hardship of you...the seller. It cannot be a simple letter stating that they want to do a Short Sale in Maryland. The letter should actually cause the reader to "cry" and stand out! This letter needs to be emotional so that the negotiator who reviews it can "feel" and understand the seller's issues. The seller should cite examples as to what caused the issue with reference of proof in material you provided. If your pays has been cut, show a tax return where there was a higher pay vs. their lower pay. If there is a medical issue, divorce etc. reference it in the financial hardship as to where they can find it in the package. Reference your debt/income ratio or whatever evidence you can provide to support your claim.
You whould be as detailed as possible and keep it to a page and half, as they will not read past that point.
If you would like to discuss your situation with me, please feel free to call me anytime or for a go to my website and fill out my QUICK CONTACT FORM for fast service. I will be in touch with you the same day.
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