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How Can I Help You With A Short Sale?

By
Real Estate Broker/Owner with Regal Realty of the Treasure Coast LLC

Short sale help

 

Q: What is a Short Sale?

A: Doing a short sale is like qualifying for a mortgage in reverse.  When you bought your house you qualified for your mortgage to make that purchase.  Now you are upside down, owing more that you will probably ever be able to pay in your lifetime you have to show your lender that you can no longer afford your home. The same documents  collected  when you applied for your mortgage,  are the same documents required to show you can no longer afford your mortgage. 

 

 

Q: Can any agent handle a short sale?

A: My experience affords me the ability to assist you, more so than some of the other agents out there.  I was a loan officer with a major bank, and also a branch manager in a finance company both companies were fortune 500 companies and household names.   I then became a mortgage broker owning, managing and operation my own company for several years until I decided to focus solely on the buying and selling of real estate.   In addition, I am a Certified Distressed Property Expert and Short Sale and Foreclosure Specialist. 

short sale for sale

How Long Does the Shore Sale Process Take?

A:  Short sales where long and extremely frustrating to process in the past recent years, but the government has put pressure on the major banks to working with the consumer to resolve their pain.  Short sale are being processed in a much shorter time period but the experience real estate agent is obtaining approval within a 30 day period from receipt of a contract in some cases.  This depends on who the lender is  holding the mortgages.  Usually, the better the package the quicker the process.      

Recently, I obtained an approved short sale on a property that had two mortgages on it within 10 calendar days.  The selling agent for the buyer was surprised as was my sellers.  It was my experience that assisted in the processing of the short sale.   Please bear in mind not all cases are the same and it also depends on which bank the loan is with.  

What is Key For a Short Sale to Succeed?

A:  In processing a short sale, pricing the property , and submitting a complete and unquestionable package is key.   You are already under stress by your financial situation, why choose an agent with no experience.  

 

Some agents use short sale processing companies or attorneys.  I do not.  I know my customer and care for their well being and I feel I am the best one to present their case to the bank for them.

 

 

 

                                                                     short sale approve

Posted by

 

 

I am  certified from the National Association of Realtors for being a Short Sale and Foreclosure Expert. 

If your are looking to sell or purchase a home in South Florida CLICK HERE to contact me to assist you with your real estate needs.

 

                              

  

Merline Pennant

Realtor/Broker

Direct Line: (772) 985-7653

email: Merline@RegalRealtyTC.com

Website: RegalRealtyTC.com

 

Comments (8)

Florida Tolbert Team Keller Williams Advantage
Keller Williams Advantage III Realty in Lake Nona - Orlando, FL
Keller Williams Land Luxury Division Specialist

My answer to one of your questions is

Any realtor can LIST A SHORT SALE, but only a SHORT SALE SPECIALIST can successfully close a short sale.

Most of my short sales come from other realtors who fail at closing them and then in frustration call me. 

There is no shame in asking help as you are doing your client the best service you can as you are getting them the help they need rather than letting their home go to foreclosure. 

Mar 22, 2013 01:35 PM
Charita Cadenhead
eXp Realty - Birmingham, AL
Serving Jefferson and Shelby Counties (Alabama)
You simply cannot post enough good information about short sales. I would say that your background is definitely strengthens your position as a short sale agent.
Mar 22, 2013 01:38 PM
Debbie Reynolds, C21 Platinum Properties
Platinum Properties- (931)771-9070 - Clarksville, TN
The Dedicated Clarksville TN Realtor-(931)320-6730

Well you convinced me that you know your stuff. Go Merline Pennant Short Sale Specialist Extraordinaire.

Mar 22, 2013 02:04 PM
Gary Woltal
Keller Williams Realty - Flower Mound, TX
Assoc. Broker Realtor SFR Dallas Ft. Worth

Merline you have to be a detailed person to get the package right with a short sale, and they can be expedited or be very long depending on the bank.

Mar 23, 2013 08:12 AM
Shelley Rowton
Move To Realty - Austin, TX
ABR, RSPS - (512) 507-5779 MoveToRealty of Austin

I would call Merline Pennant if I needed to short sale my home in Port St Lucie!

Mar 23, 2013 08:42 AM
Roger D. Mucci
Shaken...with a Twist 216.633.2092 - Euclid, OH
Lets shake things up at your home today!

Very impressive post about short sales Merline.  It shows you are on top of your game and well informed to help those who may need to take the "short sale" route.  Well deserving of being Featured in the group.

Mar 23, 2013 09:40 AM
Merline D Pennant - New homes, Short Sales and Pre-foreclosures
Regal Realty of the Treasure Coast LLC - Port St Lucie, FL
New City, New Towns, New homes

Thank you all.  I truly appreciate your words of kindness.

Mar 23, 2013 12:51 PM
Debbie Laity
Cedaredge Land Company - Cedaredge, CO
Your Real Estate Resource for Delta County, CO

Great blog, Merline. It's great that you've had short sale experience, and you've presented some great information for the consumer.

Mar 24, 2013 04:28 AM