short sale basics: Do you know the basics of a short sale?
- 06/04/12 06:28 AM
Do you know the basics of a short sale? If you think you do, then you should have no trouble passing this quiz, straight from REALTOR magazine onlineQUIZ: The Ins and Outs of Short Sales. Ready to take the quiz? Click HERESample question: When is a short sale offer accepted? a. When the seller accepts the offer. b. When the lender is informed of the offer. c. When the lender approves of the offer verbally or in writing. d. When a contract is formed between buyer and seller. Good luck. And may you really know as much as you think you … (2 comments)
short sale basics: Dear Short Sale Seller...if you want to sell, COOPERATE!
- 03/16/10 12:39 PM
Having worked on several successful short sales, it's necessary to evaluate which projects went smoothly and which ones hit a brick wall. We can't control or manage certain bank processes, but we can certainly ask the sellers to cooperate better The ones that took longer and were painful to manage and execute had these in common: Sellers believe their property is worth more, and refuse to list at the recommended price Sellers questioned why we need so many documents Sellers balked at giving copies of their financials (bank statements, financial statements, tax returns, pay stubs) --- regardless of how many times … (23 comments)
short sale basics: Is there any reason why an agent would leave the short sale up to the seller to handle?
- 09/12/09 05:29 AM
Short sale agent didn't do what a short sale listing agent should do. My buyers finally found a property they like. I begged the agent to present our offer to the seller even after the cut-off period. Yes, we know it's a short sale. Yes, we know the drill. And GREAT, the seller liked our offer the best and accepted it. So we were prepared to wait for the short sale approval. When I requested an update, I didn't expect what the listing agent told me: The seller is out of town (turns out he is out of the country) and is not … (10 comments)
short sale basics: BULLET POINTS for homewners contemplating a short sale
- 05/09/09 10:56 PM
Dear Homeowner If it appears that the only available option to you is to sell your property as a short sale, here are things you should know: Short sale is a type of pre-foreclosure sale in which the lender allows the property securing a mortgage or deed of trust loan to be sold for less than the full amount due, and accepts the proceeds from the sale as payment in full. Short Sale Approval Most lenders will approve a short sale only as a last resort to foreclosure because of the following: The borrower is insolvent The proposed purchase price is … (8 comments)
Do you know the basics of a short sale? If you think you do, then you should have no trouble passing this quiz, straight from REALTOR magazine onlineQUIZ: The Ins and Outs of Short Sales. Ready to take the quiz? Click HERESample question:
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