Not every house for sale is a clean offer. Sometimes there are special conditions on the property that will affect the transaction timeline. One example of this would be “Short Sale Approval Required” or as our Arizona MLS abbreviates it, “Short Sale Aprvl Req.”
Here is a quick list of the Special Listing Conditions that [...]
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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 [...]
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The economic crisis as we have experienced it thus far has been rather devastating. I have close friends who are out of work, who have been forced to sell their homes for less than they owe, and who have lost everything they have. I’m thankful that I’m able to be there to help them through [...]
Continue Reading →Ever heard that one before?
If you list and negotiate short sales, I’m sure you have. During the past year, the time frame required to close a short sale has increased as more and more properties hit the market in a distressed state. Short sales occur when the bank allows the owner to sell the [...]
Continue Reading →Aside from the normal list of problems that a home can encounter through the Escrow process, there are a few things that happen that are specific to Short Sales that can kill the deal. I’ve outlined 5 that I have come across and a little bit about each experience.
Failure to Provide Documentation
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Continue Reading →I hear time and time again that you have to be behind on your payments to do a short sale; that you have to prove that you’ve suffered reduced income to do a short sale. You don’t. This is currently false information.
If you understand the mathematical components of a short sale, you will see [...]
Continue Reading →I was shocked to search my own website for the term “What is a short sale” only to find no results. How could that be? I’ve written a bunch of stuff on short sales. Well, I’m solving that little problem right now with yet another basic post on the definition of a short sale.
What [...]
Continue Reading →When you cannot pay your mortgage because it is out of your reach due to adjusting rates, pay reductions, job loss, etc., then it’s likely you have been inadvertently placed on a track that will lead to foreclosure.
Foreclosure occurs when the bank takes your home back because you went too long without paying them. [...]
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