short sale: How to Avoid Pitfalls when Buying A Short Sale!
- 08/20/11 04:00 PM
By now everyone has heard of Short Sales. Just a few years ago, it was a word rarely used in Real Estate. But today it is a widely used term......sometimes even mis-used. Let's review what a Short Sale is. A Short Sale is when a lender agrees to allow a seller who has a financial hardship to sell their home for current market value...taking a loss on the original mortgage and allowing the homeowner to sell their property "short". So what does this mean for a buyer buying a Short Sale. Here are some tips! 1. If you are a buyer.....before … (3 comments)
short sale: Are You A Realtor That Can Handle Distressed Listings?
- 01/21/11 11:11 AM
There are many types of Realtors. Many sellers don't know this....they assumed that if you are a Realtor you should know what you are doing. But just like all professions, Realtors come with many specialties. We live in a age of many distressed homes, that needs agents that can help them navigate through the minefield of a short sale. The wrong information can kill a deal or worse, send a home into foreclosure. Short sales will continue to be a big part of Real Estate as more and more homeowners find themselves under water and looking for a bail … (3 comments)
short sale: Loyalty and Trust...One Seller Story of trust and loyalty and how she lost her house during the Short Sale process!
- 01/20/11 01:49 PM
I was told this story by a fellow frustrated agent. Ironically....the seller was my client before being switched to her by our mutual Short Sale Attorney....this is a sad story of a seller trusting and being loyal to her attorney. I received a call from a Attorney who specialized in negotiating Short Sales to list a Short Sale from a referral. Listed it, received two contracts that went no where with the bank.....this was two years ago. Received another call from the Attorney saying the seller was not happy.....so instead of firing themselves (they were the ones negotiating with bank), they … (5 comments)
By now everyone has heard of Short Sales. Just a few years ago, it was a word rarely used in Real Estate. But today it is a widely used term......sometimes even mis-used. Let's review what a Short Sale is. A Short Sale is when a lender agrees to allow a seller who has a financial hardship to sell their home for current market value...taking a loss on the original mortgage and allowing the homeowner to sell their property "short". 
;)
;)
;)
