Consider working with an agent of your own, or any local agent/realty office can provide any necessary information; keep in mind that some of the properties in RealtyTrac ads may not be for sale yet, and some may never be if the default is satisfied by the owner...... more
John Benett on this thread was the first one that stated what I was thinking some needed to.
Since Jan 1st, I have personally negotiated 3 HAFA shortsales. For those of you that don't know what this means simply speaking it was a govt backed mortgage and the bank APPROVED the short sale property for a price BEFORE we placed the home for sale. It has some details to qualifying, but once done, the home is ready to be sold as easily as any traditional real estate sale.
This changes the ENTIRE process now.
My personal experience is that if the listing is a HAFA listing, and you can ask your agent if theres are, then you have a chance for at least 60 days or less.
But AGAIN. NO guarantees, but mine all have been able to close in under 60 including obtaining financing for the buyer. A cash one can close this month in just under 30 days.
It takes someone who actively works in and specializes in short sales to successfully negotiate short sales thru the maze of complicated paperwork to a successful completion and if you notice in this thread, most agents that spoke on this subject are from Keller Williams Realty of the Treasure Coast and that is because our office ACTIVELY trains its agents on a daily basis and our agents have the most education in the short sale process since our broker has personally closed more short sale transactions than any agent on the Treasure Coast and he pushes his agents to embrace this difficult market niche and not be afraid of it but instead be educated about it and assist those homeowners in this difficult situation to a positive outcome with the most compassion and least amount of difficulty in an already difficult time in their life.
In the case of either selling or buying a short sale, it takes a top notch, highly trained CERTIFIED DISTRESSED PROPERTY EXPERT to get the job done and most of our nearly 140 agents are these experts.
I would be glad to personally answer any questions you may have and give you all the details you need to make an informed decision as to whether a short sale is right for you.
Kevin B Tolbert, P.A. GRI
Certified Distressed Property Expert
Keller Williams Realty of the Treasure Coast
Email: firstname.lastname@example.org... more
The foreclosure will not be stalled, simply because you list the property for short sale. Two different departments in the bank work simultaneously. The foreclosure process continues, while the short sale process is happening. If we have an offer into the bank for short sale and the auction date arrives, we may be able to postpone the auction date to proceed with the short sale. Please call us directly to discuss your specific situation. Our services are FREE to homeowners. We look forward to hearing from you.
Eli Givoni, Director
Short Sale Department, LLC
Serving all 50 states... more
There's absolutely no difference whether you order and pay for the title policy or the seller does. Your buyer's agent should have explained that you. It's excellent that the seller is paying for it (it's standrad, though), that way you don't have that expense.
However if you're worried you need to have any title policy ( bought by your or the seller) reviewed by an attorney. If you're financing, the lender will make sure the title is clear and everything is good. If you're cash, then if you can't read the commitment and policy yourself ( it's not that hard to read), have someone who knows what they're doing look it over.
Again, I'm surprised your agent didn't cover all this with you.
Faith Home Loans
Get Pre-Approved: http://www.faithhomeloans.com/express.html... more
If you are looking at a RealtyTrac ad--keep in mind that RealtyTrac's information may not always accurate and oftentimes misleading--you could be looking at a lis pendens property--notice of default--or some kind of other fees--some of those properties may not be for sale yet, and some may never be, if the default is satisfied by the owner. If you are interested in foreclosures, work with an agent--he/she will have access to reliable information--also don't overlook traditional sales as some may turn out to be a much better bargain than some of the foreclosure properties.... more