Short Sales

March 3, 2015

What are the Real Estate Broker and Team’s responsibilities during the Short Sale Process?

What are the Real Estate Broker and Team’s responsibilities during the Short Sale Process?

  • Analyze the market conditions and confirm whether or not the sale is a short sale
  • Consult with homeowner to ensure the short sale is the best option for avoiding foreclosure
  • Collect all financial documentation from homeowner ...
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Posted in Short Sales
March 3, 2015

What are the Homeowners responsibilities during the Short Sale Process?

What are the Homeowners responsibilities during the Short Sale Process?

  • Turn in all items for short sale package at the first meeting with real estate broker
  • Sign Authorization to Release Information form and all listing documents
  • Turn in additional requested information promptly: Since the short sale srocess takes several months ...
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Posted in Short Sales
March 3, 2015

What are the steps for selling my home as a Short Sale?

What are the steps for selling my home as a Short Sale?

  • Gather all documentation for Short Sale Package (see list below)
  • Meet with a qualified real estate broker to sign Authorization to Release Information and Listing Documents to list property for sale (The Authorization to Release Information document will ...
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Posted in Short Sales
March 3, 2015

How does a short sale affect my credit?

There is no specific category on the credit report for short sales, as there is for foreclosures. In addition to reporting any late payments, a short sale will appear as “paid as agreed,” “settled for less than amount owed,” or “settled.” This can lower the score as ...

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Posted in Short Sales
March 2, 2015

Important Things To Know About Short Sales

Important things to know about short sales:

1. A short sale benefits you by avoiding the foreclosure

A short sale:

- Saves you from the damaging effects of a foreclosure on your credit record
- Shows future creditors that you are a person of action in dire situations and will do ...

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Feb. 27, 2015

3 Steps Of A Short Sale

In very general terms, a short sale occurs when a homeowner is not able to make the mortgage payments due to financial hardship. Rather than foreclosing on the property, the lender agrees that the property may be sold for less than the mortgage payoff amount.

Here are the 3 basic ...

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Posted in Short Sales
Feb. 27, 2015

What Is A Short Sale?

What is a short sale?

A property that sells for less than the balance that is owed on the mortgage.

Short Sale Definition – A real estate short sale is when your mortgage bank agrees to take less than what is currently owed on the unpaid balance. A short sale ...

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