The information in this answer is general information and is not intended as legal advice, nor do I intend to create an attorney-client relationship with any reader by answering this question or otherwise contributing as a member of Trulia.com.
We have several individual agents and teams of agents who specialize in marketing and selling properties which must be sold as short sales.
Do not hesitate to give us a call at 312.265.8000 or 312.242.1000 - or you can check out our agents at dreamtown.com/agents/dream-town.htm
Best of luck to you - look forward to hearing from you!
I've been a North Side Resident & Chicago Real Estate Consultant since 1989, and besides brokering short sales, I've been the seller on one. I have the personal and business experience to be your best advocate in this type of transaction.
Please call me to discuss, and to arrange a free consultation. 773-988-9136
Best regards. Tatiana Perry
Americorp Real Estate
Brokers Associate, e-PRO
Our office is conveniently located at 2125 Irving Park Rd (Damen) and I lived for a large potion of my life in the Jefferson Park/Edgebrook area.
The short sale process as not as intimidating as it may seem and if you have a valid hardship, the Banks are more and more willing to work towards accomplishing a short sale for the benefit of all involved parties.
whether you decide to work with me, or someone else, i recommend that you ask these questions to your professional:
(1) they need to explain to you the short sale process on a 90 day timeline. likewise, they should be able to explain to you what 2 benchmarks are needed in the first 30 days; the next 2 benchmarks needed in days 31-60; and the final benchmark that takes place in days 61-90.
(2) ask them if they are, or work with an investor. If they cannot explain to you why the investor will be the single most important factor regarding your short sale, you will be in for a rough ride. Note: the investor may/may not actually be buying this property.
(3) ask them if they have access to a bank loss mitigation calculator. if they do not say "yes" within 1 second - you know that they have no clue what that is. this is what we use to show the banks if they will net more money through a short sale or if they will net more money letting the property reach foreclosure. If your professional does not have access to this banking tool - negotiating your deal with the bank's loss mitigation department will be a nightmare.
(4) ask them to explain to you the concept of BPO and it's importance. ask them how many "cents" on the dollar banks will attempt to recoup of the BPO amount. if they do not answer this question within 1 second, you know that they have no clue what it is.
call me anytime should you seek to do business with us.
Eli Givoni, Director
Short Sale Department, LLC
Serving all 50 states
MARS Disclosure for General Commercial Communications
Short Sale Department, LLC is not associated with the government, and our service is not approved by the government or your lender. Even if you accept this offer and use our service, your lender may not agree to change your loan. If you stop paying your mortgage, you could lose your home and damage your credit.
Online Bio: http://www.slideshare.net/memarki/marki-lemons-media-kit-7487332
Seller Resources:https://www.hmpadmin.com/portal/index.jsp and http://www.makinghomeaffordable.gov/pages/default.aspx
Designations and Certification:
ABR, ABRM, ADPR, CDEI, CNE, CRB, CRS, green, SFR in addition I'm a HAFA certified instructor and a BPO certified instructor
You should try to work out a deed in lieu with the bank first. It hurts your credit less than a short sale although many banks will not consider it.
Remember that your credit will be hurt for many years with the SS and it does matter what the price ends up to be because many banks will still go after you for the deficiency judgment after the place sells so try not to take a low ball offer. The lower the price, the more you will eventually owe.
I try to avoid all short sales, but good luck.
I highly recommend Mike Hulett of Jameson Sotheby's International Real Estate as a short sale specialist in the Chicagoland area. He can easily be reached at 773-744-4447 or firstname.lastname@example.org.
I am a Certified Real Estate Negotiator, Short Sales & Foreclosure Specialist and and Accredited Distressed Property rep.
Feel fee to check out my bio online or view my client testimonials on my website below.
If you'd like to interview me feel free to contact me directly.
Neeti Arndt - Neeti@dreamtown.com