short sale specialist: SHORT SALE PACKAGE: Make sure it's complete before submitting to the lender
- 09/25/09 07:39 PM
It's been discussed, blogged, taught...and it doesn't hurt to revisit it again. If it appears that the only available option to the seller is to sell the property as a short sale, it is extremely helpful to prepare him on what to expect: what is a short sale, how to qualify for a short sale, what is the process, timelines, how to prepare his property for sale, and forms he needs to complete. The seller is already in distress and will not be in the best frame of mind. So it helps when a listing agent walks him through the various … (34 comments)
short sale specialist: Dear Homeowner: don't be afraid, don't be too proud to ask....we CAN help!
- 09/19/09 08:23 PM
Sept. 20, 2009. A new listing came up: a foreclosure that took everyone by surprise. It was not previously offered for sale as a short sale. It sold less than three years ago...and now it's bank-owned? What happened to the people who lived there? Did they even know about financial resolutions to their distress? Why didn't they try to sell the house as a short sale to salvage their credit? Why didn't they call their realtor? WHAT YOU DON'T KNOW CAN HURT YOU A previous homeowner (who wasn't my client) called me for help. Unfortunately, by the time she did, her house was just … (8 comments)
short sale specialist: 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 specialist: Blogging not to earn points, but to share info, knowledge, experience --- and be seen!
- 09/01/09 10:53 AM
It is important (to me, anyway), to say that blogging for points isn't the driver or primary reason to blog on Active Rain. Rather, it's to ask questions, to share experiences, to contribute knowledge. In turn, these blogs go beyond Active Rain where they are seen by the general public --- and THAT is the real value of bogging on Active Rain. Blogging on Active Rain (which, in my case is picked up on my website via a widget) has been a real blessing in more ways than one. When I ask people how they found me or my listings, the vast … (9 comments)
short sale specialist: When should you use a third party short sale negotiator?
- 09/01/09 07:10 AM
Handling short sales was challenging...in the beginning. There surely was a learning curve getting to do it the first time. Thank goodness for the wealth of information on line! Also, as short sales started becoming a more common occurrence, even in our coddled island community, we were introduced to how-to seminars where we picked up even more information. But at what point would you want to turn over the short sale negotiation? If there is only one lender, it's easy as pie, comparatively speaking. But if there are more lenders, particularly if they are two DIFFERENT lenders, it becomes tedious, challenging … (3 comments)
short sale specialist: 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)
It's been discussed, blogged, taught...and it doesn't hurt to revisit it again.
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