Ridgewood NJ – We recently gave a couple of common reasons that short sales fail. Today, we will go thru a few more reasons.
(To recap, here were the reasons we put in our previous blog post. Reason #1: The sales price is lower than the lender wants. The lender thinks the home is worth more than it is selling for and won’t approve the short sale unless the price is for the value they have.
Reason #2: The tenant doesn’t allow the home to be showed. Many tenants do not want the home to be shown to buyers because they will have to move before it sells.)
Click here to discover how other sellers successfully did a short sale and avoided foreclosure.
Reason #3: Your realtor never followed up with the lender. Short sale negotiators are not in a rush. They don’t get paid by the file.
They also make the rules. They will issue ultimatums. “Get me this document by Tuesday. If you don’t, then I will cancel the short sale process.”
Restarting the short sale process will set you back 30-60 days. If your agent doesn’t follow up on the process regularly and quickly respond to requests, then your short sale may be canceled.
Reason #4: Your realtor didn’t keep their paperwork organized. Lenders want correct paperwork that is properly filled out. They want everything organized.
Most short sale departments are a bureaucracy. They have checklists to fill out, forms to check, and other things to check.
If your agent is not organized, then they won’t be able to give them the correct paperwork. They might lose paperwork and have to hunt down replacements.
This takes time and slows down the process. So, be sure you hire an organized, competent agent to help you with your short sale.
Thinking about a short sale? I can help you short sale your property and get back on your feet. Send me an e-mail at jlockard@remax.net. I will contact you for a free consultation.
When we talk, I will explain how the process works in detail. If you prefer, then you can call me at (201) 825-6600 x343 or on my cell at (201) 674-3114. If you prefer, just fill out the form by clicking the words, Contact Me below:
Discover how other sellers successfully completed a short sale and request a free consultation by clicking here.
Thinking about a loan modification? Our Ridgewood Loan Modification Kit has the instructions you will need to get a loan modification approved with your lender. Click here to request a copy.
Thanks for reading this, James Lockard.
James is a Real Estate Agent at RE/MAX Properties.
Phone: (201) 825-6600 x 343 Cell: (201) 674-3114. jlockard@remax.net
View My homes for sale at www.BergenCounty-Homes.com.
James Lockard specializes in loan modification assistance and short sales in Ridgewood New Jersey. Ridgewood Loan Modification Help, Ridgewood short sales. Ridgewood Short Sale Realtor Short Sale Realtor. Ridgewood NJ Short Sales. Ridgewood Realtor
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Important Notice
James Lockard, RE/MAX Properties, and the Stop Foreclosure Institute are not associated or affiliated in any way, shape, or form with the government. Our services have not been reviewed, endorsed, or approved by the government or your lender. Most lenders willingly work with agents on short sales. Why?
Because most short sales are beneficial to a lender. If you accept our offer to help you on a short sale, your lender may not agree to a short sale or to modify your loan. We do offer a loan modification kit.
However, the likelihood of negotiating a modification is like everything else in life. It takes work and persistence to convince your lender to modify your loan. No matter what you or we do, your lender may not approve a loan modification.
If you stop paying your mortgage, then you could lose your home and damage your credit. Because we know avoiding foreclosure is so important to any homeowner, we recommend that you speak with the appropriate legal or tax advisor before making any decision.
This is not intended as legal, technical, or tax advice. Please speak with a licensed professional before making any decision. Information is deemed reliable but not guaranteed as of the date of writing.
You have the option to reject a short sale or loan modification from your lender if it does not meet your approval. If you decide not to go thru with the short sale, then you do not have to pay us our fee. We normally make a real estate sales commission for helping you on a short sale.
The views expressed here are Lockard’s personal views and do not reflect the views of RE/MAX Properties.
This information on Ridgewood Short Sales: More Reasons Why Short Sales Fail is provided as a courtesy to our viewers to help them make informed decisions.
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