Short Sales- Everything You Ever Wanted To Know About Short Sales But Were Afraid To Ask Part 8

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Short Sales- Everything You Ever Wanted To Know About Short Sales But Were Afraid To Ask

Palm Beach County Short Sales- Short Sales- Information For Sellers and Buyers.

We get calls at least 3 times a week from Sellers who no longer can make the payments on their home and are trying to find out what a short sale is and how it works. Most of the calls we have received this last week are from sellers who have already spoken to their attorneys and their attorneys are recommending that they sell their home using the short sale process.

This past week we listed 2 short sales where the seller found us on our Active Rain blog and called us after reading our posts about how to do a short sale. We had one owner call us to list his house but it would be better for him if he does whatever he can to keep his house, so we did not list his house for sale. Instead we are sending him to resources that may be able to help him keep his home.

If you are in the real estate industry you have heard of short sales but most of the general public has not heard of a short sale and does not know what a short sale is. So to sum it all up I am listing here the series of posts that we have created about what a short sale is and the process that you must go through on the seller and the buyer side of the short sale transaction. There are 7 parts to this series:

short sales: Short Sales In Palm Beach County Florida- What You Need To Know If You are Buying Or Selling. -Part 1


short sales: Short Sales In Palm Beach County- Part 2- What You Need To Know -


short sales: Short Sales In Palm Beach County- What You Need To Know Part 3 -


short sales: Short Sales In Palm Beach County Florida- Part 4 *The Process Begins* -


short sales: Short Sales In Palm Beach County Part 5- Short Sale Myths and Truths About Offers


short sales: Short Sales In Palm Beach County Florida Part 6- After The Offer Comes In.


short sales: Short Sales In Palm Beach County Florida- Part 7 *Inside The Process*

One of the most important things to know when you list your property as a short sale is that your property must be priced competitively enough to encourage offers from buyers. And if you are an agent you must not only have the foresight to know what a BPO will come in at but also to have some understanding on what a buyer's appraiser is going to be looking at for comps. Pricing a home too high will create headaches for a seller and in the end, possibly lose their home to foreclosure. At the same time, pricing too low will get offers that have no chance of being accepted since the lender is not going to approve sales too much lower than their BPO.

Please read the following story of a seller that wanted to price her home correctly but her agents priced her home too high.:


short sales: Beware Of Damaged Goods! *The Human Consequences Of Taking Overpriced Listings*

This is why it is so important, I can not stress this enough, that you choose an agent who knows how to do Palm Beach County Short Sales and has experience working with Short Sales. Ask your agent if they have closed on any short sales in your area. Selling your home as a short sale takes commitment, perserverance, patience and expertise in negotiations and follow through of actions. Do not leave your Short Sale to chance.

Time is of the essence in doing your short sale. Call Nestor Gasset and Katerina Gasset today at 561-753-0135 to find out about selling your home as a Short Sale.

Katerina Gasset Subscribe to my Blog

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Contact Nestor Gasset and Katerina Gasset, CIPS, Realtors®, International Properties and Investments, Inc. Licensed Realtors® in Florida at 561-753-0135 to list your property for sale or to purchase a property in Wellington, Royal Palm Beach, Loxahatchee, Lake Worth, Hypoluxo Island, Lantana, West Palm Beach and the rest of Palm Beach County Florida. We are accepting referrals.

Copyright © 2008 By Katerina Gasset, All Rights Reserved. *Palm Beach County Short Sales- Everything You Ever Wanted To Know About Short Sales But Were Afraid To Ask.* Contact Katerina Gasset for Customized Business and Personal Coaching.

Visit our profile to find out more about our services. Call us today at 561.753.0135 or Toll Free 800.444.3316. Contact us by email if you prefer by clicking on email me on the right side of this page under our profile.

To view all the Wellington Florida Luxury Homes For Sale Click here and then click on Multiple Listing Search where the globe is on the right side of the screen that opens up. We know Palm Beach County and will help you get your home Sold if you need to Sell your home and help you buy your Wellington Home or Land ; call us today.

Disclaimer:The information provided herein is supplied by several sources and is subject to change without notice. Wellington Homes Blog does not guarantee or is any way responsible for its accuracy, and provides said information without warranties of any kind, either express or implied. Entries on Wellington Homes Blog represent the opinions and ideas of the author(s). Wellington Homes Blog does not express the views of International Properties and Investments, Inc or those of the broker.

P.S. If you are listing your home as a short sale in Palm Beach County Florida make sure you hire an agent who knows how to do short sales and has the experience to get the job done. We are doing successful short sale packages. Call us at 561-753-0135 to find out more about Palm Beach County Short Sales.

 













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Rainer
209,246
Marc Grossman
Marc It Sold! - Longwood, FL
GRI, Greater Orlando Real Estate Broker
Katerina,  What I am finding in Orlando, that the agents are pricing the homes at about .50 on the dollar compared to what is owed.  I do not see the lenders accepting this, but...
Mar 07, 2008 09:31 AM #3
Rainer
65,479
Ellie Viray
Podley Properties - Pasadena, CA
Realtor, GRI
Katrina - I had posted a question to find out how one goes into the Short Sale or REO market?  We are seeing quite a few in the Altadena and Pasaden, CA area.  Any leads for someone who like to learn the market?
Mar 07, 2008 10:15 AM #4
Rainer
136,482
Gayle Balaban
The Best Spot Realty/Waterfront Real Estate/Ooltewah Real E - Chattanooga, TN
E. TN Waterfront Real Estate
way, way, way to much information for me and my pee brain these days.  Unfortunately, not my niche.
Mar 07, 2008 10:42 AM #5
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Deb Brooks
Brooks Prime Properties Wichita Falls Texas - Wichita Falls, TX

Katerina and Nestor, this is great information. You are also using a larger font which appeals to the
Boomer crowd which is obviously the largest on earth and you two are really good at what you're doing. I enjoy reading your posts. No wonder you are busy. Thanks for all the enlightenment. Later in the rain~Deb

Mar 07, 2008 01:35 PM #6
Rainer
68,685
Alan 'AJ' Nisen California Contra Costa Mortgage Officer
A Large Bank in America - Lafayette, CA
Katerina, Good stuff.  I have some reading to do tonight.  AJ
Mar 07, 2008 02:47 PM #7
Rainmaker
121,547
Sandy Noll
(RSVP Real Estate) 425.890.0878 - Woodinville, WA
Real Estate Team From Mill Creek to Mercer Island
Katerina that is a TON of information!  Thanks!  I have helped two clients with pending auction dates but we did not need to secure a short sale from the lender.  They both walked away with money in their pockets literally days before the auction!!  Great info!
Mar 07, 2008 05:20 PM #8
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Margaret Woda
Long & Foster Real Estate, Inc. - Crofton, MD
Maryland Real Estate & Military Relocation
This is wonderful and TIMELY information that consumers want and need!  Excellent job, as always.  (I thought you were going to take a break to deal with life?)
Mar 07, 2008 08:31 PM #9
Rainer
165,557
Dan Forbes
Bradenton, FL
Katerina - I have enjoyed your series.  Thanks.
Mar 08, 2008 12:00 AM #10
Rainmaker
342,924
Kim Peasley-Parker
AgentOwned Realty, Heritage Group, Inc. - Sumter, SC

Katerina-  Thanks for these resources.  I have read them before when I was working with a client and I will be sharing them with another agent who is in need of them now.

 

Mar 08, 2008 12:41 AM #11
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Katerina Gasset
Get It Done For Me Virtual Services - Wellington, FL
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Marzena Melby

Marzena- Yes, you are right, the right agent is very important in doing a short sale. Just because an agent has a lot of short sale listings does not mean they know how to do them either! We just ran across that. c 

Mar 08, 2008 01:31 AM #12
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Katerina Gasset
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Charlottesville, Monticello Real Estate> >Karen Gentry, REALTOR/ Virginia

Karen- Thank you for leaving a comment. We do a lot of short sales and meet many agents who don't have a clue and sellers too. This post hopefully will give them some thing to read and learn from.  

Mar 08, 2008 02:39 PM #13
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Katerina Gasset
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Kim Peasley-Parker

Kim- You are very welcome, one of our sellers was having a hard time finding all the tags and links so I compiled this list for him and thought maybe others could use the same list.  

Mar 08, 2008 02:40 PM #14
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Katerina Gasset
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Bradenton Florida Real Estate - Dan Forbes REALTOR®  

Dan- And I enjoyed yours as well. Hope all is well with you. Make it a great week! :)  

Mar 08, 2008 03:13 PM #15
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Katerina Gasset
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Margaret Woda, Maryland REALTOR  

Margaret- taking a break from commenting as much as I do, but not posting. I have to keep posting for google juice and for the agents who depend on me now to coach them here. It is so hard for me to glance past a post and not comment back to everyone. Great talking with you today. Thanks for your concern.  

Mar 08, 2008 03:16 PM #16
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Katerina Gasset
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Marc Grossman, GRI - Central Florida Real Estate Specialist

Marc- 50 cents on the dollar to what is owed is what our market value is, and we are getting them through as long as we don't get an inept agent doing the BPO. Katerina 

Mar 08, 2008 03:17 PM #17
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Fran Gatti
RE/MAX Integrity - Medford, OR
Managing Principal Broker - RE/MAX Integrity
Good series and very helpful.  I wish I would have found it before I ever started on my first short sale, but I had an excellent mentor who guided me well.  I learned some new things, however, from reading your series.  Thanks.
Mar 11, 2008 05:07 PM #18
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Jeff Dowler, CRS
eXp Realty of California - Carlsbad, CA
The Southern California Relocation Dude

This is a terrific source of information on short sales, Katerinia. Gonna take a while to wade through it all.

Jeff 

Mar 12, 2008 03:16 AM #19
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Katerina Gasset
Get It Done For Me Virtual Services - Wellington, FL
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Fran- I am glad that you have a wonderful mentor. I preach about getting a mentor all the time! I am glad things are working out for you.
Mar 12, 2008 07:20 AM #20
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Katerina Gasset
Get It Done For Me Virtual Services - Wellington, FL
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Jeff- Take your time and learn this information and then get help with your first deal that is a short sale. Katerina
Mar 12, 2008 07:31 AM #21
Rainer
1,436
Matt Brown
Robison & Co. - South Jordan, UT
I look forward to reading through this serious. There is definately lots to know about the short sale process.
Mar 26, 2008 07:53 AM #22
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