Feel free to contact me if you need assistance and we can discuss what you are looking for in your potential agent to see if I fit your needs. I have helped many buyers find short sale properties and deal with the obstacles that come with this process.
I wil be happy to speak with you. I am an industry leader with regards to short sales and would be surprised is someone had more information on the subject than I do. I hate to brag but I have done an enormous amount of research on this particular subject matter and have established connections with most major banks holding these toxic assets. It is a process. I am happy to disclose what I have learned. Check out my blog and watch my video. It was designed for the home owner who is in trouble with their mortgage, however, I believe that as a purchaser, you should also understand how our market was caught up in the crisis and what steps are being taken today to alleviate the problems with transitioning these homes from a non-performing assets to a performing assets.
There are more than 2,611 home owners in Owings Mills, MD alone who are more than 120% upside down in value. Most are at varying stages of negotiations with their banks and also at different stages with respect to accepting the fact that they can not continue to stay on a sinking ship. If the home owners do not cooperate then you may want to look elsewhere. A cooperating seller is key to getting the transaction completed - without that, they will just tie YOUR finances and hopes up. A short sale adds an additional layer of difficulty to the transaction because not only does the person in the home, who may or may not be paying, have to sign off on your offer - the asset manager who oversees the asset also must sign off on the terms and conditions of the offer. Lack of communication between the agent and the asset manager is a major contributing factor as to why these transaction stall. The asset manager wants to see facts as to why they would net more for your offer vs THEIR other options: deed-in-leiu, foreclosure, principal balance reduction modificaiton, modificaiton without principal balance reduction and refinacing. As I mentioned, it is a complicated process with many layers to consider.
http://www.carolstonestreet.com/shortsalepresentation/shorts - this was written a year and a half ago - additional options for home owners are now available.
My cell phone is 202 573-6035 and my e-mail is firstname.lastname@example.org.
Best wishes with your move!
Senior Mortgage Loan Officer
Fairway Independent Mortgage Corporation
The homeowners in this case may be ambivalent about doing a short sale on their home. There are several key questions that your Realtor should ask in order to get a better picture of what this short sale will entail.
I have short sale experience and would like to share my experience and knowledge to help you as my client. Please contact me on my cell phone 973-441-1192
If you would like to discuss further, I would be happy to talk, and find out more details. Please send me a private message! I have an agent who works with me and she is very knowledgeable when it comes to short sales.
Keller Williams Excellence Realty