Short Sale Relocation Assistance
You could receive $5,000 to $30,000 in relocation assistance
Bank of America is excited to offer enhanced relocation
assistance. Qualified homeowners who initiate a Preapproved Price Short Sale (without
an offer) could be eligible to receive $5,000 - $30,000* in relocation assistance
and owe no more on their mortgage with the sale of their property,
depending on the investor involved.
Determining your eligibility
Bank of America will quickly evaluate you to determine if you
qualify for the enhanced relocation assistance.
You must participate in one of the Preapproved Price Short
Sale Programs, such as:
HAFA (Home Affordable Foreclosure Alternatives)
Bank of America's Cooperative Short Sale Program
Specific investor participation and eligibility criteria do
apply to these programs.
If Temecula and Murrieta homeowners do not meet eligibility requirements for the enhanced
relocation incentive you may still qualify to receive $2,500 - $3,000 in relocation assistance
from government- and bank-sponsored programs.
Q: How can I find out
if I qualify for this limited time offer?
A: Call us at 951-506-5744 for assistance.
Q: Do I have to do
anything special when initiating or completing the short sale?
A: No. But act quickly by initiating the short sale with an
agent that is a short sale specialist. This is a limited-time offer that
you won't want to miss out on.
Q: If a short sale is
initiated with an offer, will it qualify for this enhanced relocation assistance?
A: No. Short sales initiated at the time an offer is
received do not qualify for the enhanced relocation assistance
Q: Is the enhanced relocation assistance
eligible to non-owner-occupied properties?
A: Yes, it is available to non-owner-occupied properties.
Q: Will the relocation assistance
funds be reported on the HUD-1?
A: Yes, funds received at closing will be documented on the HUD-1, and a
1099-MISC will be issued.
Q: Can the relocation assistance
funds be used to pay off existing liens?
A: Yes, you may use funds to pay off existing liens or to help with relocation expenses.
Is the enhanced relocation assistance added to any other incentives,
such as the HAFA or Bank of America Cooperative Short Sale Program
A: The incentive will be inclusive of the
$3,000 HAFA incentive. For example, if Temecula and Murrieta homeowners are eligible for $5,000, then $3,000
will be from the HAFA funds and the remaining $2,000 will be from Bank of
America homeowner incentive funds.
We don't just try to sell your home - we MARKET your home to sell. Inventory is massive and buyers are scarce. It takes FULL TIME marketing and lead generation to keep your property up front on the internet at ALL TIMES. The MLS just does not cut it anymore. You need EXPOSURE. Nobody dominates the search engines like we do, so that means YOU DO!
Did you know that 75% of todays MLS listings entered are pre-foreclosures or foreclosures? If you need to sell, but owe more than your home is worth, you are not alone! We can help sell your home and negotiate with the bank to accept less than you owe.
Equity, or negative equity, we can help. So, if you or someone you know has thought about selling, please contact us right away to see what your Southwest Riverside County Real Estate Value is!
Call 951-506-5744 or Simply enter your information on this page and we will provide you with a speedy response. The more information given, the more accurate the evaluation. All information you provide is secure and will be kept strictly confidential. There is no obligation. Please indicate when you are thinking of selling and if what YOU think your home is worth. We have a specialized team on call as well to respond to your foreclosure and short sale questions.
* The relocation assistance
payment is calculated based on the appraised value of the homeowner's property.
The total amount will be no less than $5,000, but no more than $30,000.
The payment will be delivered at the time of closing if the homeowner
complies with all terms and conditions of the Short Sale Agreement,
which include but are not limited to the following: a full walk-through
appraisal must be completed and the homeowner must satisfy all junior liens and
provide clear title for the property (the relocation assistance payment
can be used to clear those liens). The short sale must
close by Sept. 26, 2013. If the homeowner does not comply with all terms
and conditions of the Short Sale Agreement, they will not
receive the relocation assistance payment. The amount of any
deficiency and relocation assistance will be reported to the Internal
Revenue Service (IRS) on the appropriate 1099 Form or Forms. We suggest
that the homeowner contact the IRS or their tax preparer to determine if they
have any tax liability.