I just closed short sale this morning. After only five weeks of negotiation the back accepted the buyers offer. The property was a good investment for the buyers. The short sale was the perfect remedy for the sellers. They received a $3,000 check from HAFA. If you are a primary home owner you may also be eligible for relocation money.
The negotiation process begins with a sales contract. Listing your home with me will bring a ready willing and able buyer to contract quickly. This offer is subject to 3rd party approval. The 3rd party is your lender. I manage the negotiation process on your behalf with your lender. The process is all about negotiation so you need to have a strong, successful negotiator on your side.
Financial documents the bank will require from you are:
Your recent pay stubs
Your current Bank Statements
Two years of tax returns
Hardship letter to your lender
Your Lender can forgive your debt. You can avoid deficiency judgment. The Mortgage Forgiveness Debt Relief Act offers relief to homeowners. Primary homeowners no longer have to pay taxes on that forgiven debt. The lender will typically pay all closing fees and Realtor commissions.
Need short sale advice? Contact me for a FREE and confidential evaluation.
Subscribe to CommentsComment