More on Short Sales

By
Services for Real Estate Pros with Laura Moore Godek, PC

 

Are you reluctant to list a home if the Seller is delinquent on his mortgage or already in foreclosure?  I can help you with many of these transactions and you can help a seller headed to foreclosure avoid bankruptcy or foreclosure.

 

 Buyers purchase a property with equity, often a great deal.  The mortgage holder gets the delinquent loan off their books without the problems associated with taking possession of the property. 

 

 

Many homeowners in distress situations may not be aware of alternatives to bankruptcy and foreclosure With rising forclosure rates in Illinois opportunities to earn commission checks doing short sales will only increase. You can grow your profits and results quickly.

 

If your sellers are late on payments, headed towards foreclosure and have little equity, stop and call me.  Don't avoid short sales, profit from them.  Many sellers have negative equity and are unable to sell their homes at a high enough price to satisfy outstanding mortgages, taxes and pay commissions. You may earn future referrals from their family members and friends

 

Most lenders will require sellers to provide a complete financial package to prove financial hardship.  Most lenders will allow a 5% commission. Sellers should call an accountant to discuss tax ramifications.

 

www.Godeklaw.com

godeklawoffice@yahoo.com

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