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Peaceandpowe…, Real Estate Pro in Bell And Hurd, Paine...

Are there different kinds of short sales?

Asked by Peaceandpowerparenting, Bell And Hurd, Painesville, OH Thu Oct 25, 2012

How can some short sale clients get back $2000 and others can get almost $20,000 or more?

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Answers

4
For the most part there is two types
Standard or HAFA
HAFA asks for up to 3000 for moving expenses.
There are rumors of people getting 30,000 from Chase.
I spoke with a couple of the negotiators at Chase and they have told me this is false.
They did give me specific reasons for what peopled called it but it was a payoff to another lien.

Harold Sharpe - Broker
So Cal Homes
(951) 821-8211
harold@southerncaliforniashortsales.org
http://www.southerncaliforniashortsales.org
California Department of Real Estate Broker License # 01312992
1 vote Thank Flag Link Sun Oct 28, 2012
I AGREE WITH ALL THE OTHER ANSWERS REGARDING SHORT SALES. IT SO DEPENDS ON WHICH BANK YOU ARE DEALING WITH AND WHAT THE CIRCUMSTANCES OF THE SHORT SALE AND HOW MUCH THE SHORTAGE IS.

ON THE PLUS SIDE, HOME OWNERS ARE NO LONGER RESPONSIBLE FOR STATE OF CA AND FEDERAL TAXES THAT USE TO BE OWED ON THE SHORT SALE AMOUNT.
0 votes Thank Flag Link Thu Dec 12, 2013
As Emily said, it depends upon the bank. I am closing a short sale this week where the seller is getting $5900 in relocation money. It depends on the bank, on the bank's negotiator and your negotiator. I haven't seen any banks handing out the large sums of money, but they CAN. It depends upon the circumstances.

If you short sale your home make sure you have an experienced short sale agent, Give me a call or email me. I would love to help you. Time is not on your side at the moment...do something right away!

All my best,
Dot Chance, Realtor®
Certified Distressed Property Expert – CDPE®
DRE License #01494182
Keller Williams Realty World Media Center
http://www.DotChance.com
818.339.7712

WHEN YOU THINK OF REAL ESTATE...Think DotChance.com! My business thrives from your referrals!
0 votes Thank Flag Link Thu Oct 25, 2012
It depends on the bank & your situation. Trust me, they're not handing out $20K to the majority of short sellers. Chase Bank sometimes offers this & if they do it's a variety of factors which can also include forced company relocation of the borrower.

Shoot me an email so we can talk about this some more, I don't look back on this same Trulia posting for answers after mine.

Emily S. Knell
EmilyKnell1@yahoo.com
562-430-3053 c
Realtor Since 1996
Realty ONE Group
100% short sale success ratio
& I can Prove it
0 votes Thank Flag Link Thu Oct 25, 2012
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