• “What is a Short Sale? How Does The Process Work?

    "What is a short sale?"

    Simply put, a short sale is the Sale of a home where the homeowner owes the bank more than what their house is worth and they need to sell.

    For Example: You owe $400,000. On your home however your home is worth $300,000 in today’s market. If the correct steps are followed it can be negotiated for your bank to settle your debt, thus allowing you to sell your home at market value of $300,000. And your bank will forgive the $100,000 dollar difference. If you believe in a dollar saved is a dollar earned then you just made $100,000. Current loan restrictions allow you to buy a home in 2 to 3 years after your Short Sale Closes.

    Common Reasons for a Short Sale:

        1. Financial hardship with a decrease in your income!

        2. Getting sick or loss of job!

        3. Falling behind on your payments and you're not sure if you can catch up!

        4. Moving and must sell fast and home is worth less than you owe!

    If you are facing any of the situations above, and you think a short sale might be your best option, then read on. If you're still not sure and just want more info, then scroll to the bottom of this page and request a free Short Sale Report to learn more in detail.

    “How Does The Short Sale Process Work?” In Detail!!

    1. Homeowner will meet with a specialist, to learn more about your situation. The outcome of this conversation will determine if a short sale is best for you. At this time we recommend tax persons if needed, legal aid, and any other resources to help you make an informed decision.

    2. If you decide that selling is to your best interest, and then we list the home, fill out some paper work to get started, and leave you with a list of a few items that you will be required to provide to the bank.

    3. We then market the home in various ways to find a buyer to purchase your home, much like a regular sale. Note: if you prefer that no “for sale” sign be put in the yard your neighbors never have to know your home is for sale; however, this does reduce buyers which drive neighborhoods looking for “just the right home.”

    4. Once a buyer is chosen we lock them in to contract, it is very important that when the banks approve the offer the buyers are still there, if the banks think they will make more money on the “short sale” they will not foreclose.

    5. This step is what helps us to be so successful (98.2 Success Rate) and why our competition fails:

            A) We draft an agreement to lock buyers into contract for at least 60 days.

            B) Submit all required documents: Hardship letter, Taxes, Bank statements, and the new Purchase Agreement.

            C) Create the Net Proceeds so the bank knows what the actual amount they will receive.

    6. Bank wants to know your homes value: We will meet every Appraiser at your home and will have already prepared a BPO appraisal for the banks person. This will often include Bids for work to be performed as well comparable sales. “Note any agent not following this step has just dropped the ball, without the banks appraisal showing that our “Short Sale” offer is beneficial above a foreclosure the sale will not go through.

    7. After the banks Derive their value they approve or counter our original offer that was submitted. “Remember that if the bank counters us then we are all prepared and we still move forward with the same buyer” No Stress!

    8. At this stage we have the Banks Approval (the Ok) from your bank to sell for less than what you owe. Then our buyer will start a regular Loan Process taking 30-45 days. Note: This is when a home seller should plan their move.

    9. Once the buyer has gotten their own appraisal for their bank and the loan is finished they will move in and seller will move out. Just like any other sale.

    Special Notes: We will help you find a place to move after your sale. Often this process takes 60 to 120 days from the First day we meet to the Day you will move out, and Get that Huge weight of stress off your shoulder. It takes about 18 months to 2 years to prepare your credit to purchase again. However many homeowners had saved up chunks of money from not paying their mortgage and team up with a family member to put a down payment on a home in a relatives name and team up in some way. Options are endless and these are all topics for 1 on 1 discussion.

    “How do I Get Relocation Cash?”

    Many agents go and do what everyone else is doing, and some are successful in getting “Short Sales” Negotiated out. However, we have found avenues in the banks’ system to not just get the banks to settle debts at a discount but to get Sellers money for assisting in short sales. This money is sometimes used for Back Property Taxes, Child Support Liens, HOA liens or Moving Costs, some use it For Vacation, to finally relax.

    Don't worry. It's not your fault...

    Keep in mind - we've all had our ups and downs in life and many other great people are also in the same difficult position as you. Life seems uncertain when you're facing the reality of foreclosure and I know how it feels when you just don't want to answer the phone any more...

    I think we all can agree that we're in the middle of a national mortgage crisis and, in a lot of cases, homeowners who have bought or refinanced in the last few years have been seriously abused by unethical lending practices!

    You bought your home and hoped that it would increase in value (and some folks were even promised it would!), but most likely the unfortunate reality is that now your home is worth less than when you bought it and the value could still be declining today.

    My team has helped hundreds of homeowners in this position to get the help they deserve. I have a proven track record in successfully avoiding foreclosures for many people just like you. I am on your side and stick to it until all our goals are complete!

    It's sad but true!

    Did you know that nearly 80% of the homeowners across the nation who try to "short sale" their home will end up losing their home to foreclosure due to an uneducated or incompetent agent? Our full Report will let you know what questions to ask an agent before hiring! Thus Hire right the first time, Live your life and let a competent agent relieve the stress off your shoulders.

    Don't allow this to happen to you!

    The reality is that the vast majority of agents that are "trying to help" have not been properly trained and sadly, are misinformed as to how to even negotiate with lenders. Some even get so far as to submit your 'short sale packet' and then just sit back and wait for a response! In the end, they simply don't know how to help you and you will become one of those "80%" that were not helped.

    "Short sales are not easy!"

    ...Unless you seek the help of an expert agent with a proven track record .

    We have successfully negotiated short sales for many families and as you can see from my recent approval letters, we actually get the banks to say YES to our short sales. Before you agree to have an agent help you sell your home, ask him/her to show you just one short sale approval within the last 6 months... I doubt they can.

    Testimonials and reference list sent to you upon request,.

    --For a Full Short Sale Report which includes a side by side comparison when faced with Short Sale vs. Foreclosure Mailed to you leave your information to the right.