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Short Sale Purchase Process

By
Mortgage and Lending with Northeast Community Mortgage
It seems like every potential home buyer is looking for a short sale to get a deal. These properties are available, the problem is the process to get the purchase closed can be very daunting to the prospective buyer, and to you the agent. We have developed a very indepth process that smoothes out the transaction, and helps you take more control of the transaction. If you follow some pretty basic steps, you can cut the timeline down significantly. I am happy to help any agent involved in a short sale purchase or sale for that matter. Our process will help you close those short sales faster, and more importantly make sure you don't have to fight for your commissions at closing. We even prepare the preliminary HUD for you early in the process so the bank that owns the property agrees to your commission in the beginning of the process.
Lu Kalaj
Vision Realty Centers - Brighton Township, MI
Buyers think that "short sale" means lowest offer possible, which delays the process for getting an offer accepted with banks.  Banks would rather go through an auction, then accept a LOW offer.  I hope you have great success with your short sale offer.  Lu
Feb 07, 2008 11:23 PM
Brian Como
Northeast Community Mortgage - Charlton, MA

Lu that is very true indeed. Another real problem is that 99% of the time the person living in the house has the misconception that they have the right to accept or reject the offer that is made on the property. Once they are 30 days past due on their mortgage payment they are in default. That means they have lost the rights they once had on the property, and all the decisions are the banks. They can regain the right to accept or reject an offer if they cure the default and bring their payments current.

Feb 07, 2008 11:36 PM
Debbie Holmes
John L. Scott - Boise, ID
Gets the job done!
Banks want you to think they would rather foreclose so they can get a higher price.  They want to sell the house to.......I have tips on short sales  activerain.com/blogsview/360078/Short-sales-should-I
Feb 07, 2008 11:47 PM
Jess Arce
New Century Realty Group - Frisco, TX

There are more and more short sales coming.

Feb 19, 2008 01:24 AM