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Home Selling in 84116 : Real Estate Advice

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  • Home Buying2
  • Home Selling5
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Activity 4
Tue Dec 6, 2011
Shawn Ryan Rosa answered:
not at all. even if the case of a short-sale you can list first.
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Sun Jul 11, 2010
Thom Colby answered:
Joe -

I did not see this question asked......

1) Do you own more than 2 acres and you are selling only a portion of the property and not the enitire property?
2) Is the mortgage on the entire property (assuming it's more than the 2 acres in question)

No matter, if you sell the enitre property, or just a portion of it, the loan likely has a "Due on Sale" clause which means the mortgage needs to be paid off at closing. The title company will handle that.

Best of luck,

Thom Colby
Broker / Owner & Certified HAFA Specialist
Thom Colby Properties
Newport Beach, CA
Moving Lives Forward (TM)
We NEVER DOUBLE-END a Transaction in our Brokerage as it is not beneficial to the Seller or the Buyer, but only to the Agent.
888-391-5245 Direct Cell
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Mon Nov 30, 2009
Robynn Eccles answered:
In addition to what the previous posted answers have said, when you are behind in payments you will most likely be inundated with letters, emails and phone calls from individuals that want to "help" you. Some may be threatening, others may promise the moon. A few guidelines to remember:
1. If you are looking to do a loan modification you may contact your mortgage company directly to facilitate that. It does not cost anything. A lot of scam artists are charging people thousands of dollars to "consult" on a loan modification without any kind of guaranteed result. This can turn a bad financial situation into a worse one.
2. If you choose to short sale your home all realtor fees are paid by the bank. You have no financial obligation for the real estate professional that sells your home, so choose the best! I've talked with many home sellers that chose to work with "discount brokerages" for a short sale because they were concerned about being able to pay commissions, the result has been a sloppy, ill prepared short sale process that's frustrating and ultimately can lead to sale failure and foreclosure.
3. Keep open lines of communication with your mortgage company! Not only can they not force a short sale, they may have options available for you to help get you back on track.
Best of luck!
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Tue Jan 27, 2009
Coni Otto answered:
Hi Matt,

The short answer is ask your Realtor to contact a title company and ask them to run a hud1 on your property for the most accurate amount you pay. Your Realtor can also figure it out if you give them your mortgage payoff, If you sell it using a Real Estate Agent you will need to add 6% Realtor Fees to the seller side.

Sellers pay the REaltors who list and sell their house so 3% to the selling agent and 3% to the agent who sells your house.

Hope this helps, Coni Otto
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