The Complete Short Sale Process in Calabasas

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Real Estate Agent with COLDWELL BANKER

The Complete Short Sale Process in Calabasas

SFR DesignationThe short sale process  is a dignified alternative  to foreclosure. The process is still a mystery to many people, even after all these years. Lots of buyer's agents are confused: puzzled buyers are looking for direction, and not evey short sale listing agent knows how to do a short sale.  Michael and Irene are local agents in the Calabasas, Woodland Hills and outlying areas of the San Fernando Valley. They are certified SFR, i.e. Short Sales & Foreclosure Resource, certified by the National Association Of Realtors. 

Banks get short sales for 2 reasons: the seller has a hardship and the seller owes more on the mortgage than the home is worth. A few examples of a hardship are: Unemployment/divorce/medical emergency/job transfer out of town/bankruptcy and death.The seller will need to prepare a financial package for submission to the short sale bank.House

Before a buyer writes a short sale offer, a buyer should ask his or her agent for a list of comparable sales. The bank will want to receive  an amount somewhat close to market value. After the seller accepts the offer, the listing agent will send  several documents, including a Seller's short sale package, to the bank.

Buyers may wait a long time to get a response  from the bank.  It is imperative  for the LISTING AGENT to be on top of the short sale process.

Michael and Irene are CERTIFIED SHORT SALES EXPERTS by the National Association of Realtors.  Our Goal is to help you, the seller, get your life back to normal as quickly as possible. A successfully negotiated short sale will allow you to be eligible for a Fannie Mae-backed loan in only two years, as opposed to five  years after a foreclosure (seven years if the property is not your primeary residence). There is also the possibility for us to get the bank to release the debt without affecting your credit each lender works differently.

As SFR-designated agents, Michael and Irene have been extensively trained in the alternatives to foreclosure and can help you make an informed decision.

Michael and Irene  can provide you a FREE INFORMATIONAL REPORT comparing the consequences of a short sale and foreclosure.  Go to www.michaelandirenehomes.com and fill out the "Contact Us" form.

Call or email us before you get too far behind, for a  free initial consultation. The laws and rules keep on changing.  Call before the banks change their regulations.

 

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