short sales: Is A Short Sale for You? - 10/03/11 02:55 AM
Is A Short Sale for You?
A short sale, in brief, is when the homeowner's market value is less than the amount owed on the mortgage when selling a property. Thus, the homeowner would not be able to clear the lien unless an agreement is reached wth the lender to accept less than the amount owed as "paid in full" to remove the lien.
So, the question remains, Is A Short Sale for You?
I am not a lawyer, so I must state that any personal advice should be obtained by consulting a real estate lawyer familiar with short sales, … (0 comments)

short sales: We beat the Sheriff! Fast Short Sale Success - Part 2! - 12/22/10 01:25 AM
Short Sales are meant to be anything less than short, right? Most short sale specialists will tell you that it can take 90 - 180 days to close a short sale. My experience puts it at about 90-120 days, considering the 1st offer goes well. Well, I left off in my previous post about us (the seller side) obtaining short sale approval from the lender in roughly 3 weeks time and ready to close. Keep in mind the Sheriff Sale was scheduled to occur 3 days prior. Yes, we sent in a request and received an extension to the Sheriff Sale.
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short sales: We beat the Sheriff! Fast Short Sale Success - Part 1! - 12/20/10 01:18 AM
If you have never handled a short sale, you may not know where I am going with this. For those of us that handle many short sales and have success with closing them, I am sure you will understand.
Now, I would love feedback on some of these statements.
How long does the typical short sale take to close from listing to close?
How long should it take?
Usually, I estimate a short sale listing I handle to take up to 30 days to generate an offer, followed by 30-45 days for lender approval. We are at 60-100 days out at … (0 comments)

short sales: When it rains, it pours. - 11/29/10 03:59 PM
Real Estate can be a humbling profession. It's an emotional roller-coaster ride similar to a game-winning homerun negated by a 5 run top of the 9th comeback by your favorite team, or an interception at the opponents 5 yard line after it looked like a score and an inevitable win.
One week an agent can go from having a handful of listings that seem destined not to sell, to having acceptable contracts on all. The following week that same agent can have all those deals fall apart for a variety of reasons, ranging from low appraised values to numerous defects found in a home inspection, … (7 comments)

 


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