You may want to read this article before continuing so you have some context for the information here.
Since the buyer and seller are in the drivers seat concerning the terms of a real estate purchase contract, and the bank is simply a 3rd [...]
Continue Reading →When a short sale is approved by a lender, it is approved in writing with the names of the parties to the purchase contract included. This means that if there is a change in any way, shape, or form, to the contract that affects anything on the HUD-1 the approval letter that the lender has drafted [...]
Continue Reading →This one topic drives me bananas because I run into it just about every day of the week.
A short sale is the sale of a home for less than is owed the bank. In order for this to take place, the lender has to approve the contract which is between the buyer and the [...]
Continue Reading →Short Sales Require Experienced Agents
Every week I hear stories in the office of agents who have taken short sale listings who have never worked on a short sale. They don’t know what they’re doing, and you are putting your financial future at risk by hiring them to sell your home.
Here are two critical questions [...]
Continue Reading →Inspiration for this article comes from a recent conversation I had with another agent about a short sale listing that hasn’t received any offers because the seller is emotionally attached to the house and won’t lower the price.
Guys, you’ve got to hear me on this one. Just like any other real estate offering, the [...]
Continue Reading →Before I continue, I need you to know that I am not an attorney, nor am I a tax professional. Please, before you make any decisions about your housing situation, consult a professional to have your questions answered.
There are 2 major potential financial consequences of a short sale. The first is a potential deficiency [...]
Continue Reading →One question that I hear over and over again is, “should I short sale my house?”
Before you can short sale your home, you need to know if your house is under water. If you’re asking the above question, you probably already know the answer. If you don’t, you might want an evaluation of your [...]
Continue Reading →This article is primarily written for the home owner who is in a hard financial position with questions about what steps they should be taking to solve the problem, but it serves a greater purpose, and that purpose is to provide valuable information for the public to chew on.
The holidays come once [...]
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