What Does Short Sale Mean? How Will A Short Sale Affect Me?
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What is the Short Sale Process? What does Short Sale mean?
Short Sale means, in real estate terms, that a borrower is needing to sell their home for less than what they owe. There may be past due payments, judgments, liens, multiple mortgages, and other items (debts) that have a secured interest against the the property. All the parties with secured interest have to agree to allow the sale of the property to go through in order for a Short Sale to close escrow and a title to insure the transaction.
The Short Sale Process could be the answer if sellers finds themselves in a distressed position or thinking that they will not be unable to pay their mortgage in near future. A borrower (seller), commercial or residential, can avoid foreclosure, bankruptcy and further damaging their credit score by going through the short sale process. The lender and any lien holders that will not be paid their debts in full will have to go through the short sale process. The seller will have to submit their financials as part of the process while the buyer will need to provide proof that they will be able to follow through with the purchase. A seller can always make a bad situation worse and knowing what a short sale is and completing the sale of their home for less than what they owe can save their credit.
How to Deal with The Short Sale Process?
Needless to say the Short Sale Process in general is not the most pleasant but can be completed in the right hands, If you are considering the possibility of doing a Short Sale we can help you with the entire short sale process. Our experienced and highly skilled Short Sale specialists work with you and your home to get it sold fast (or at your pace). We help you get it listed, get an offer, submit your offer to the bank and get your home sold. It’s that easy. Our goal is always to help clients put this very difficult time behind them without sacrificing their goals. The Short Sale process is tough and time consuming but we have the contacts, the know how, and the network to deal with it.
Why We Are Different From Others?
- We negotiate the Short Sale directly with the sellers short sale liens on the behalf of all parties, 100% satisfaction is guaranteed. We work for you not for your creditors, banks, judgment holders or servicers!
- Extensive short sale processing and financial knowledge helps you explore a full spectrum of options in a way that others can’t. We know more than just how to do deal with the Short Sale process.
- Excellent negotiation skills, in-depth industry knowledge and complete understanding of the lender’s language and procedures.
- Complete preparation of necessary documentation to make your Short Sale process easier and successful.
- Quick communication, fast short sale processing, strong relationship with banks to speed up the short sale processing.
- Receive Incentives for Short Selling up to $35,000.00 or more! (Depends on each servicer and the programs available)
Don’t Let Your Home Get Foreclosed! Get Expert Advice, Save Your Credit, And Even A Chance To Walk Away With Money!
Short Sale Incentives or Relocation Assistance
Unable to affordable your mortgage? Get an incentive for going through the short sale process as a seller! There are a number of Short Sale programs to incentivize sellers to short sale. If you qualify for a short sale your lender pay out up to $10,000.00 or more! In some cases, after all the fees and costs, you might get more money in your pockets than some equity sellers! Avoid foreclosure by applying for Short Sale process and enjoy the incentives.
Most Common Short Sale Incentive Programs
- Home Affordable Foreclosure Alternatives, (Incentive $10,000.00)
- Bank of America Cooperative Program (Incentive from $2,500 – $30,000)
- Chase Bank Short Sale Program (Incentive $20,000—$40,000 dollars)
- Select Portfolio Servicing (SPS) (Up to $20,000)
- Wells Fargo (Wachovia Bank) – (Incentive $1000 to $7500)
Benefits Of Doing A Short Sale
A Short Sale is a far better way to get rid of any unfavorable mortgage terms and offers the following benefits:
- Avoid further damage to your credit score.
- Eliminate your mortgage debt.
- Avoid the negative impact of being foreclosed on.
- Short Sale processing incentives for sellers.
- Chances for a waiver of the deficiency or judgment.
How Does A Short Sale Work? Consult The Details Of Your Short Sale With a Specialist! Call 888-945-5553
Getting started with the short sale process is quite easy. We will consider market conditions, the costs associated with Short Sale process, Short Sale consequences and how the processing time frames compare to any thresholds such as foreclosure dates, etc.
Listing Your Home
It is time to list your home to get offers. Our nationwide network of skilled Listing Brokers and Agents are prepared to get you listed quickly and easily. Want to limit the amount of people going through your home? No problem. Want to get a quick offer instead of dealing with all the hustle and bustle? We’re prepared to serve you.
Selling Your Home
Congratulations! You have got a valid offer on the table and you may have several. Now, you can accept an offer that suits you or may make a counter offer to any of the buyers. Our Short Sale Broker/Agent will work with you to determine a fair price and reasonable terms and will negotiate with the buyer’s agent to finalize the deal.
Negotiating With Your Bank
We can do it all! Don’t want to call the bank? You don’t have to! Tired of getting transferred around? That’s where we step in and do everything. All lenders will require some sort of financial package but working with us makes seeing the pitfalls easy. You never know what curve ball your bank’s going to through but we’re prepared to catch it and make sure to resolve issues quick and painlessly. Once approved we’re off to the races (escrow) to get short sale completed. We dealt with thousands of short sale processes and successfully closed them. We will put our best as well to deal with your short sale process.