short sales: Your signature can delay short sale approval if you are not careful.
- 09/30/13 02:53 AM
Short sale approvals take time. It is unfortunate that they do not check the entire agreement of sale when they receive it before sending it to negotiators to approve or counter the price.If you are the buyer agent you should check the entire purchase contract before submitting it to listing agent for the following things 1.Signature of buyers should be the same on all addendums and agreement. The buyer cannot sign one addendum as say Tom and another as Thomas. If they have middle initials they should also have it on all addendums.If you are--- Sr or ---Jr it should be signed … (10 comments)
short sales: Agents should educate their buyers of short sales.
- 03/25/13 08:51 PM
I receive calls from buyers looking for short sales and foreclosures. They want to know how they can buy distressed properties and as they see that I have the CDPE designation they call me. I like to meet buyers at my office and explain the home buying process and also explain the pros and cons of buying a reo or short sale. Here are some things buyers should be made aware of : 1. These days lenders are pricing the homes at close to market value so do not expect 'to steal ' the house . 2. If it is … (42 comments)
short sales: ActiveRain Blog Posts: The Top 10 of 2011 - Pro to Pro Edition
- 01/23/12 11:54 PM
I just came across this post which mentions top ten posts for 2011 based on google analytics these posts had the most page views from January 1 2011 to December 31, 2011. They may have not been written in 2011. I chose this post to reblog so that more members can read the posts that they missed. I have read many of these and the one that I am interested in is the one about short sales. I have read the post and would like to share it with others who do short sales. There is a lot of information. There … (4 comments)
short sales: Submitting A Short Sale Package That Will Get Noticed.
- 07/06/11 01:06 AM
Here is great information on how to submit a short sale package that will get noticed. I have bookmarked it so that I will have it available when submitting a short sale. Thanks to Broker Bryant for the post.
Hi folks. We had one of our members over at Short Sale Superstars ask: An executed contract offer was submitted to Chase on June 24th. I have called into the Short Sale Department multiple times since. The rep. tells me the same thing each time - "a Negotiator has not been assigned". How long does it take to assign a Negotiator? … (8 comments)
I started by emailing everyone. I requested two or three sentences about the one thing that should have been different with a difficult short sale they had. They could talk to an agent in their office who had a short sale if they did not do a short sale transaction. Our group stayed in touch by emailing our suggestions to everyone. A short sale occurs when the sale proceeds are not enough to pay the lenders at closing. … (22 comments)
short sales: Is it a good time to buy a bank owned Home in Philadelphia and suburbs?
- 10/16/08 01:17 PM
There are several bank owned homes for sale in Philadelphia and suburbs. It is a good time to buy but you should be cautious. Some of the houses are priced below market price so that they will sell quickly. these may be good buys. Some are listed slightly higher. You can always make an offer on a house. It is a buyers market. There is a difference in buying a short sale which is listed by a home owner before it is owned by the bank and a home listed by the bank directly. When you want to make an offer make … (7 comments)
short sales: Are you considering a short sale in Philadelphia?
- 10/12/08 03:39 AM
Many people who bought their home a couple of years ago and need to sell are finding it difficult to sell.They may owe more than they can sell it for. They may have a second mortgage and can not make the payments. There are resources out there that you can check out if you are considering a short sale or are afraid your home may go into foreclosure. Most important do not ignore the letters from the bank. Go to www.hud.gov and look for links for your state. There are housing counseling agencies who will guide you and you need to … (7 comments)
short sales: Looking to buy a short sale in Philadelphia and suburbs ? The most important thing is...
- 09/23/08 12:53 PM
This is a buyers market. There is a large inventory of homes for sale in some areas and many of them are SHORT SALES. A short sale occurs when the amount owed by seller is more than the market value or sale price. Many sellers who bought two or three years ago may have also obtained a second mortgage and now find that they can not pay the mortgage . They can not sell either because they owe more than they can get. The Bank has to approve the Short Sale. This takes time. Sometimes weeks or months. The most important … (9 comments)
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Gita Bantwal
REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel
Short sale approvals take time. It is unfortunate that they do not check the entire agreement of sale when they receive it before sending it to negotiators to approve or counter the price.If you are the buyer agent you should check the entire purchase contract before submitting it to listing agent for the following things
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