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Home Selling in 22180 : Real Estate Advice

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  • Local Info2
  • Home Buying2
  • Home Selling3
  • Market Conditions0

Activity 3
Thu Mar 29, 2012
Erik Weisskopf,ABR,CDPE, answered:
LMC,

The list is rather lengthy...Are you buying or selling?

The documentation for a seller is what is commonly known as a "hardship package" and each bank is unique..but structuring the "hardship package" requires an agent knowledgeable in short sales. If this package is not submitted properly it can almost worse than not submitting it at all.

If you need some help..check with a CDPE (Certified Distressed Property Expert)..though the certification implies "EXPERT" ..the education alone..Makes no one an expert..experience does. Each bank is unique in it's requirements of submission, negotiation, etc.

If I can help..let me know!

Kind Regards,

Erik J. Weisskopf, ABR,CDPE,CRS,GRI
Re/Max Distinctive Real Estate,INC
Erik@AskMeAboutHomes.com
703.216.1222
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Thu Jul 7, 2011
Raymond Leahey answered:
The previous discssions point many reasons why the property is off the market.

It may come back on and it may not . Your agent can help you find out the current status. If you don't have an agent supporting you I as others would be pleased to support your discovery process.

]Ray Leahey
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Wed Jul 6, 2011
Jo Ann Marcario answered:
Document review is done by the bank in a short sale. If all paperwork has been filled out and submitted properly, the documents will go through the proper channels for review. The bank has to determine whether there is a hardship with the owners such as job loss, inability to pay bills, etc. The seller has to fill out a lot of paperwork, submit bills, bank accounts, pay stubs, tax returns, etc and all these documents need to be submitted together for review.. The time needed is determined by the banks and the completeness of the paperwork. You need an agent who is familiar with the process to handle the transaction and follow up with the bank on a regular basis. If not complete or sent in as the bank has ordered, it may be pushed to the side and they go to the next case. All documents may have to be resubmitted and the review is started all over again in turn. Hope this helps. Contact me with any specific questions unless you already are working with a Realtor.

Jo Ann Marcario
Certified Distressed Property Expert
Accredited Buyer Agent
jsmarcario@gmail.com
703-966-7314.
... more
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