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Recently we facilitated the completion of a successful short sale. These transactions can be time consuming and depend alot on the cooperation of the lender ( in this case, the lender was easily accessible to communicate progress & did cooperate :) Our State Association sends out an email newsletter. One recent issue featured an article by the Attorney for our Legal Hotline. The TIPS in it were very valuable in helping us through the process of closing this property sale! Click here ---> for this Informative Link-QUICK GUIDE TO SHORT SALES by Richelle Cohen Mossler for Suggestions that may help you as a Listing Agent or A Buyer's Agent if you are faced with an offer that is Subject to the Lenders Approval of a Short Sale! Sincerely, Jeff & Grace Safrin - REALTORSserving Lake, Porter, La Porte & Starke Counties in Northwest Indiana
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The Elizabeth Nieves Realty Group - Durham, NC
Bilingual Raleigh - Durham North Carolina Real Estate Team
This looks like great information. I have never been the listing agent for a short sale before, but I believe there will be a bunch of them on the market in the upcoming months. I need to get educated now. Blessings!
Oct 19, 2007 09:55 AM
F.C.Tucker 1st Team Real Estate - Valparaiso, IN
SpousesSellingHousesTM
Thanks for stopping by and commenting Elizabeth - Yes, Unfortunately, we are sure we will keep this article handy and refer to it again :(
Blessings to you to!
Oct 19, 2007 10:02 AM
Kingsbridge Realty, Inc - Hubert, NC
Hi Jeff & Grace,
Thanks for sharing the information that was helpful to you. Short sales are exhausting!
Thanks for sharing the information that was helpful to you. Short sales are exhausting!
Oct 20, 2007 01:22 AM
F.C.Tucker 1st Team Real Estate - Valparaiso, IN
SpousesSellingHousesTM
Hello Cynthia, Thanks for dropping by and commenting... yes Short Sales are like a Marathon RUN transaction :0
Have a great week
Sincerely,
Oct 20, 2007 02:40 AM
The Payne Group at Keller Williams Success Realty - Panama City, FL
Panama City Real Estate
I am working on 2 short sales right now. One with Wells Fargo. Both the seller and I called them twice daily (4 times total a day) to get it sent to a negotiator in a timely fashion. Hopefully we will have an answer soon. Our offer is 88% of the amount owed by the seller.
The other is with Chase. They are reviewing the offer. They did tell me that they like to see 80% of the first mortgage and they will settle for very little on the second.
Short sales take much work but they are going to be a major source of business in the near future.
Oct 24, 2007 12:27 PM
F.C.Tucker 1st Team Real Estate - Valparaiso, IN
SpousesSellingHousesTM
Hello Jeff- Good Luck With Your Short Sales, Hopefully You will get cooperative lenders as we did!
Hope the link to the ahndout helps give you some tips as well!
Thanks for stopping by - we agree- there will probably be alot of short sales in the next year or so from ARM's coming due :(
Oct 25, 2007 07:59 AM
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Northwest Indiana Real Estate - Lake, Porter, La Porte, Counties in NW Indiana. A Team Approach To Real Estate. We Are Internet Savvy! We provide you Valuable services and representation in Buying or Selling Real Estate and Relocation services : Competitive Market Analysis of Price, Marketing Plan that sells our Listings, Access to the largest buyer pool via Northwest Indiana Multiple Listing Service, Negotiation of Contracts. Coordination of the many aspects of Closing the Transaction: financing, inspections, insurance, appraisals, surveys, title work, deed, escrow, possession.
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