The Goad Team, GRI, e-Pro, ABR

Short sales are not your usual real estate transaction. You need a REALTOR with experience. Our team has a track record of closing over 90% of our short sales. The one thing I would tell you is - no matter who handles your short sale, make sure that get them all the documentation and information requested by the bank. It has been our experience that when a seller does not respond to offers or to requests from the bank, they end up in foreclosure. The bank deals with 100s of files everyday. When they don't have all the information they need, no amount of negotiation will help.

The market is getting better. List your home as soon as you can so there is time to get it sold.

Please let us know if we can help you

The Goad Team - Tue Apr 14 2009, 15:22

I am not sure what you mean but I will try to answer your question. First lets assume that you are looking at a house that up for sale as a “Short Sale.” Until the property has been foreclosed – sold by the bank at a Trustee Sale – you can make an offer. The current owner can accept, reject or counter your offer. The price is always negotiable. Once the offer is accepted, then it goes to the bank to see if they will accept the net. Remember at this point the bank does not own the house. They still hold mortgage and will decided if the current offer gives them enough to settle the deal. So in essence, you can offer the price listed or a lower or higher price. It is not uncommon to see bidding wars at this time.
I hope that this helps. Please let us know if we can explain anything further.
The Goad Team - Mon Apr 13 2009, 19:04

Hello! There is a lot to choose from in the area you're interested in, and we would be happy to assist you with that search! Please feel free to call (702) 586-2772 and we will be happy to arrange to show you the properties that fit your criteria. Or, if you would like to email us you can do so at Info@GoadTeam.com

Looking forward to speaking with you! - Mon Apr 13 2009, 12:45

Julie,

Many people ask us that question every day. In my opinion, A Deed in Lieu is of no benefit to you. Here is why. 1. The lender can still come after you for the deficiency balance unless the agreement forbids that. 2. Under current guidelines, you have to wait up to four years before you can qualify for another mortgage when you do a Deed in Lieu. That is same as a foreclosure. I recommend that you do a short sale. That way if you reestablish credit you can qualify for a new loan in two years. You also can stay in your home until it is sold or the bank forecloses. A short sale does not do as much damge to your credit.

I know this is very stressful. Have you tried to do a loan modification with the lender? Please let us know how we can help.

The Gaod Team. - Thu Apr 9 2009, 11:36

B Tan,

I will not attempt to tell you which is the better location, as because I am the listing agent on 601 Ampere, my answer would be somewhat bias. However what I will tell you is this...if you are looking to buy and move in as soon as possible 605 Overview may be the better choice for you as we currently have an accepted offer on 601 Ampere and we are waiting on the bank to give us Short Sale approval on the property. If you decide that you prefer 601 Ampere, then you can always put in a "Back-Up Offer" and if the current offer/buyer fell through for whatever reason. We would then contact you or your agent to let you know. This does happen from time to time, in fact the currently accepted offer was at one time a back up offer. The first offer/buyer later did not qualify for a loan. So if you end up wanting to make an offer on 601 Ampere, we would be happy to hold your offer as a "Back-Up Offer".

Let me know if there is anything else I can do to help, or if you have any other questions regarding 601 Ampere.

Sincerely,

John Goad, Jr.
(702) 586-2772 - Wed Apr 8 2009, 10:51