TOP 5 THINGS You NEED to Start A SHORT SALE | Lauren Selinsky a Short Sale Specialist in Orange County

By
Real Estate Agent with CA Coastal Estates- Luxury Real Estate CA BRE 01329427

TOP 5 THINGS

You NEED to Start A SHORT SALE

By: Lauren Selinsky - a Short Sale Specialist in Orange County

 

 

 1.) SHORT SALE LISTING CONTRACT SIGNED BY SELLER AND SHORT SALE ADDENDUM

2.) HARDSHIP LETTER FROM SELLER

3.) ASK SELLER FOR 2 YEARS OF TAX RETURNS

4.) FINANCIAL WORKSHEET, TYPED OR WRITTEN OUT FROM SELLER. LIST THE FOLLOWING:

  • MORTGAGE PAYMENT (NEED THIS, REGARDLESS IF YOU ARE RENTING ANOTHER HOME)
  • HOA AMOUNT PER MONTH
  • MORTGAGE INSURANCE PER MONTH
  • RENT PAYMENT (IF YOU ARE RENTING NOW AND MOVED OUT)
  • AUTO PAYMENT (NEED BALANCE AND VALUE)
  • MEDICAL PER MONTH
  • UTILITIES
  • GROCERIES
  • ENTERTAINMENT
  • CABLE/INTERNET
  • AUTO MAINTENANCE
  • TOTAL OF ALL CREDIT CARDS

<<<<[LIST ON ONE SIDE YOUR INCOME  AND ONE SIDE EXPENSES SIDE TO SIDE]

5.) SET UP AN ACCOUNT WITH EQUATOR, YOU WILL NEED A LOGIN AND PASSWORD (No, you do not need to buy their services, GOLD and PLATINUM Membership). They have a new TAB> Initiate a SHORT SALE (IN RED)! Do not initiate a Short Sale or try to get approval until you have the (5) above!

MAIN QUESTION THAT IS ASKED IS:  "Do you have to have an offer to get the approval?" No, you do not, but you do have to have the TOP 5 items above. If, you don't know short sales, give the listing to a professional Short Sale Specialist that knows what he or she is doing.... There is no excuse to blame the banks for taking so long on a short sale because you don't know what to do or you don't take the tasks that are requested seriously because it's all about TIME MGMT. in Short Sales.

PLEASE LEAVE A COMMENT IF YOU LEARNED SOMETHING HERE ON STARTING A SHORT SALE> AGENTS/REALTORS(R) Thank you.

AND SELLERS THAT WANT TO SHORT SALE THEIR HOME???!!! CALL ME AND IF YOU ARE NOT IN MY AREA I WILL REFER YOU TO MY CIRCLE OF SHORT SALE PROFESSIONALS IN YOUR AREA OR STATE. CALL LAUREN SELINSKY, YOUR SHORT SALE PROFESSIONAL AT 949-310-4960 NOW!

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SHORT SALE IN ORANGE COUNTY

SHORT SALE IN LOS ANGELES

SHORT SALE IN RIVERSIDE

SHORT SALE IN SAN DIEGO

Posted by

   

  lauren 

  

 CA COASTAL ESTATES, INC.

 LAUREN SELINSKY -PEREZ

CEO, REALTOR® CA | BRE01329427 

STEVEN SELINSKY, BROKER, JD | BRE01720364 

USING CUTTING EDGE TECHNOLOGY FOR TODAYS MARKET

t.888.908.7770X2305 |f.888.553.5485

CA Coastal Estates, Inc. Virtual Offices:

Aliso Viejo | Corona Del Mar | Laguna Beach   

Irvine

homes@LaurenSelinsky.com 

SEARCH HOMES NOW

 

 

        

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Rainer
279,096
Sue Ellett
Better Homes and Gardens Real Estate ~ Paragon Property Group - Marble Falls, TX
Marble Falls, & Austin, TX, Lake Travis, Lake LBJ

Hi Lauren.  Not all banks use Equator, do they??   Thx!

Feb 01, 2012 06:57 AM #1
Rainmaker
2,993,976
Gita Bantwal
RE/MAX Centre Realtors - Warwick, PA
REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel

Good advice for agents listing short sales being handled by Equator. Thanks for the tips.

Feb 01, 2012 08:12 AM #2
Rainer
283,716
Keith Gilkey
Re/Max Chesapeake - Elkton, MD
410-920-7214, Re/Max Chesapeake

Lauren, We don't use Equator we get releases signed by the sellers to speak with the lenders directly and market the property. I am going to check into this. Thank you!

Feb 01, 2012 08:13 AM #3
Rainmaker
294,581
Terkel Sørensen
Real Estate Places - Temecula, CA
Realtor, 951.805.0773 , Bank owned and Short Sales

that's clear and to the point. 

Thank you Lauren.

Feb 01, 2012 09:38 AM #4
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Rainmaker
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Lauren Selinsky CRS ePro

Southern CA Real Estate Specialist #oclauren
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