Negotiating Short Sales - Rewarding!
Wednesday, April 06, 2011 by The Gutting Group
As a Certified Distressed Property Expert (CDPE), I have been successfully negotiating short sales for homeowners over the past four years. A short sale is where a lender agrees to allow the borrower to sell their home for less than the loan balance. For instance, if you owe $150,000 on your home, but its worth $120,000 now.. if you have a hardship (divorce, medical bills, excessive use of credit, loss of job, etc), there is a good possibility the bank will allow you to sell and settle for less. We are currently negotiating 11 short sales.. very time consuming and a frustating process, but absolutely worth it and very rewarding.
7 out of 10 borrowers do not know what to do and do not call their lender or a real estate agent to discuss their options. Let me tell you, the lenders want to work out a solution for you. They DO NOT want to take the home back via a foreclosure. In fact, in some circumstances, the lender is willing to pay the borrower $3,000 to do a short sale. Heard of HAFA - The government program for short sales?
If you know of anyone that is struggling financial, in a home that may or may not be 'underwater', please call us. As a real estate agent, there is nothing more rewarding in this business than helping a homeowner navigate through these stressful waters and get them back on to good financial health.
Derek Gutting, The Gutting Group, Keller Williams Realty, www.GuttingGroup.com, 317 846.4888 or www.indyshortsaleexpert.com.
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