Short Sale Tip: 

 

 Seller MUST approve all demands, bills, and short pay lender's instructions in writing.  Lender's instructions should include al provision as to the manner in which refunds received for the seller's benefit after close should be disbursed.  If not, ask how this will be handled and prepare an amendment for lender and seller to sign.

 

Need a Short Sale Specialist? 

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Give us a call today!  866-750-8282

For a FREE MARKET EVALUATION of your home Call us or visit http://www.motheranddaughterrealty.com/

Check out: Real Estate Terms/Definitions.  And take a look at Mother and Daughter Blog and D'Adrea's Mother and Daughter Blog  - for other tips for Sellers and Buyers. I work with my daughter as the Mother and Daughter Real Estate Team at Perfect Financial Solutions and we also focus in Short Sales and the Pre-Foreclosure process.  Our consultations are free.  Our aggressive marketing plan includes on-line listing advertising.  If you are thinking of selling or buying a home in Northern California's Central Valley (San Joaquin County CA - includes Stockton, Manteca, Tracy, Lathrop) plus Stanislaus County CA - includes Modesto, Salida, Riverbank) & the East Bay (Alameda County CA - includes Hayward, Fremont, Newark, Union City & Oakland) and surrounding areas give us a call.  If you would like a FREE Home Seller or Home Buyer Handbook, please call us at 866-750-8282 or email at US.

Check us out on website: http://www.motheranddaughterrealty.com

  

Rosemary Brooks

Patrick Williams & Associates

the Mother and Daughter Realty Team

PH:         866-543-0461

FAX:        866-815-1649

EMAIL:     info@motheranddaughterrealtyteam.net

WEBSITE: www.motheranddaughterrealtyteam.com

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6 Comments on Get it in writing... be very clear.

FEB
19
2008
221,995 Points 3 Featured Posts Outside Blog
Get short sale tip. As usual Rosemary,you are always giving good information on short sales. I need to read your blogs more often. Great post.
10:13pm • #1
FEB
20
2008
211,734 Points 1 Featured Post Localism Sponsor Outside Blog Hit Router
Lanre ~ Thank you and glad you stopped by.  I believe the HUD and the lender's approval need to be read and re-read just to be sure everything is covered and all parties are protected.
10:05am • #2
FEB
21
2008
422,084 Points 3 Featured Posts Outside Blog
Thanks for the tip. I see you are an expert in short sales. I read your posts often.
6:22am • #3
I have a question; My home has been on the market for 9 mos. When we lower the price this time it will be in the "short sale " catagory. My 1st mortgagor says go ahead and do the short sale. They will get paid no matter what. The 2nd has not returned any calls to let them know we need to do a short sale. We are current on our loans to both and I'm not sure if we can list it as a short sale if we haven't gotten the ok from the 2nd (Indy Mac Bank). We're located in Carlsbad and the market is down and looks like there's more to go.
Derek Campbell
11:51am • #4
211,734 Points 1 Featured Post Localism Sponsor Outside Blog Hit Router

Derek ~ usually you don't get the short sale approval until you fulfil the requirements for a short sale which is according to your lender.  They have a list of items that you have to submit to them and then they decide so maybe that is what the second is looking for.  If you have no offer, short sale approvals don't mean much.

See Just How powerful is a Junior Lien (2nd Mortgage Loan)?  Short Sale: Do you have to be in default to get a short sale approved?

4:52pm • #5
211,734 Points 1 Featured Post Localism Sponsor Outside Blog Hit Router
Gita - thank you and I glad you find this information useful.
5:07pm • #6

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Rosemary Brooks -Mother & Daughter (866)-543-0461

Stockton, CA

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Patrick Williams & Associates - 866-543-0461

Address: Stockton, CA, 95206

Office Phone: (888) 543-0461

Cell Phone: (866) 543-0461

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ww.motheranddaughterrealtyteam.com PATRICK WILLIAMS & ASSOCIATES - the Mother and Daughter Realty Team. I enjoy helping others and working with my daughter has added value to my life and business! Call me 866-543-0461 SubScribe to my Blog!</
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