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Short Sale All Locations : Nationwide Real Estate Advice

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Showing results for Short Sale [Clear search]
Mon Jul 8, 2013
Anthony Alleva answered:
If the appraisal comes in higher than the purchase price then the extra profit will go to YOU the seller. For more information and details give me a call at (800) 215-0211.

Best Regards;
Anthony Alleva, CSSA
Certified Short Sale Agent
REO REALTOR®
License #0225-205922
Allison James Estates & Homes
601 Dinwiddie Street
Portsmouth, VA 23704
Toll Free (800) 215-0211
Email: info@anthonyalleva.com
Website: www.AnthonyAlleva.com
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0 votes 6 answers Share Flag
Tue Apr 23, 2013
Alison Hillman answered:
It is the sale of securities or commodity futures not owned by the seller (who hopes to buy them back later at a lower price).
0 votes 1 answer Share Flag
Wed Apr 17, 2013
Curly Sue answered:
Didn't I just answer this question a minute ago?

Pay the difference or have the Seller come down to the appraisal price. A lender is not going to loan you more than the home is worth. ... more
0 votes 10 answers Share Flag
Tue Jul 2, 2013
Lance King answered:
Most likely the biggest problem is the down payment as you are competing with buyers who have a lot more skin in the game. What would you do as a seller if you had equal offers, one with 3.5% down and one with 20% or more? ... more
0 votes 17 answers Share Flag
Tue Apr 16, 2013
anon ymous answered:
This home already has an offer and is under contract. If I can help you in looking for other homes available for sale, please give me a call. Thank you!
0 votes 3 answers Share Flag
Sun Apr 21, 2013
Joshua Jarvis answered:
Absolutely! In a short sale, the terms (due diligence period, contingencies, etc) are more important than price much of the time. Also, stronger financing options can often make the deal more appealing to a seller. Each scenario is different though. ... more
0 votes 14 answers Share Flag
Wed Oct 30, 2013
answered:
Not sure as we would need more information. Call or email for a free pre-approval in less than 10 minutes. We lend our own money and are licensed in 49 states.

We can do: FHA, Conventional, USDA, VA, HARP, Interest Only, Home Equity, Fixed, and Variable. Find out which product is right for you by calling Brad at (855) 415-5626.

Brad Neumann
Sr. Loan Officer
Crosscountry Mortgage Inc.
Toll Free: (855) 415-5626 ext. 5734
Email: bneumann@myccmortgage.com
NMLS# 948036
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0 votes 3 answers Share Flag
Thu Nov 30, 2017
Jake Heelan answered:
If you have a valid lease, the bank must respect that to the end of the lease. If you don't have a lease they have to give you 90 days.

After the foreclosure sale, you will be contacted by the broker assigned to market the property, the bank or both regarding your status. You need to have a copy of your lease available, and if you will begin paying your rent to the bank through their property management company.

Given that you have nearly a year left, the bank will be willing to negotiate with you a payment (Relocation Assistance or Cash for Keys). Even if it were only the 90 days, they would be willing to negotiate. Their desire is to get control of the property in as short a period of time (30 days) and in as good condition as possible, so the spread between your lease term and 30 days gives you a good deal of leverage.

I am reluctant to give more specific insight in such a public forum, but if you would like to contact me at homes@jakeheelan.com I would be happy to have a conversation with you about what to expect.
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0 votes 8 answers Share Flag
Mon Apr 22, 2013
Anthony Matos answered:
Hello Oilyrug. To answer your question about market conditions in Mesquite, for the moment things are looking up. Our inventory is shrinking, therefore driving prices up again and making it ideal for sellers to list their homes because of the shortage of competition. There are still foreclosures and short sales, but not as many as there were last year. If you have any further questions please feel free to email me.

Best Regards,

Anthony Matos, Realtor

Re/Max Ridge Realty

amatosre@gmail.com
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0 votes 3 answers Share Flag
Tue Apr 16, 2013
James Gordon ABR SFR SRS answered:
That property is not being offered for ssale on this site. Not all properties that show on Trulia are offered for sale! You may want to contact a local real estate attorney to investigate about sherrriff auctions. You may also want them to check into any forclosure action on the property and check with a Realtor0174 aout having the owner do a short sale. ... more
0 votes 1 answer Share Flag
Thu May 8, 2014
Cristyle Egitto answered:
Typically agents who specialize in short sales and foreclosures will include it somewhere in their profile or website. There are also designations for short sale/REO specialists who have completed classes covering those types of transactions.

You can also search on Trulia. Go up to the top where it says "Find a Pro" and enter your location and keywords. For example, I just searched Miami Beach, FL and found Marc Middleton who lists Short Sales and REOs as his specialities. He has 15 recommendations, which is good.

Here is the link:

http://www.trulia.com/voices/profile/Real_Estate_Pro-Miami_Beach_FL-4567414/

I don't know Marc, so I can't personally recommend him, but I just wanted to show you that there are ways to find agents who specialize in what you are looking for.

Good luck!
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0 votes 11 answers Share Flag
Thu Feb 26, 2015
Lea Shaw answered:
Absolutely, in fact I encourage all sellers to get pre-approved prior to selling their home so that they know what amount they can be qualified for on their next home.
I would be happy to pre-approve you when you are ready.
Lea Shaw
Pulse Funding of Texas Inc.
512-266-3800 - Office
512-592-7910 - Cell
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0 votes 12 answers Share Flag
Mon Apr 21, 2014
aerobicmaniac answered:
SOmeone listed my property falsely and now he/she is asking people to text for more info probably so he/she can cheat them out of money. In the meantime I am trying to rent my home only to have to field these false calls since this individual listed my 3 bedroom home for rent for $800? How someone could believe that to begin with is beyond me.The actual rent is $2600. which is still low for the area but now thnks to this joker I am having even more trouble finding serious rentors. I need my listing pulled down ASAP. Can someone help direct me to the right email or phone to get this handled? ... more
0 votes 7 answers Share Flag
Wed May 6, 2015
Toni Nicholas answered:
...assuming you meant sellers, many sellers may be in financial distress and may not be able to do any necessary things to help sell their home. Further, there are many agents who are not addressing the whole picture including the financial distress of the owners. Many agents who do not address the probable short sale of the property, may, in fact, push their sellers into foreclosure because they're too stubborn to come clean, too stubborn to learn, or outright refuse to risk pricing the property appropriately for fear of losing the listing! Many agents will not learn how to conduct a short sale and GET IT SOLD! ...which is why I began specializing in Short Sales.

I do not believe agents such as these are doing what's best for their client, and I have run into many properties such as those you describe. You and your agent should be asking these types of questions as to why the seller is selling or your agent may conduct some good ole-fashioned research to determine whether there is any wiggle room between the mortgage owed and the asking price. I'm sure you will see many properties are listed at the break even point so that the list agent avoids marking the property as a "short sale." While this tactic is not at all helpful, this will also help you decide or avoid making offers on properties in the first place. You'll find out about those stubborn agents, inexperienced agents, or those who refuse to be flexible - due to the other reasons he or she has not told you. This is why I always conduct my research, and I do not work with these types of agents. I don't like wasting my time.... money, effort, etc.... So, while this tactic is not helping the sellers at all, your agent's research will show the true picture, and you can make your decision of whether you're even going to pursue the property in the first place. I've written about these issues and more in an article on short sales from the seller's perspective. If you'd like more info, please visit the link! Good Luck!
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0 votes 16 answers Share Flag
Tue Apr 16, 2013
Deb Russcol answered:
There can be no answer to this question. First of all Chicago is 30 miles long and 10 miles wide. Condos are in 2 flats and in 900 unit buildings and everything in between. Old, new, updated and rehabbed. Small and huge. It is just too open a question. Even if you can you narrow it down the next questions are is it a foreclosure, short sale or regular sale? Can the property be rented... so many more questions. I think if you are looking to buy the real questions are quite different.

Deb
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0 votes 3 answers Share Flag
Mon Dec 22, 2014
Brad Davidson answered:
HI Jeremiah,

Check out me website at www.wehelpubuy.com. I have a program where I share my commission with my clients and you can use that money to pay your closing costs. My average client gets back about $7,000. I work with lenders who will contribute with credits of their own to save you more.

Give me a call for more information.

Thanks,

Brad Davidson
Broker - 01416432
714-961-8442
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0 votes 12 answers Share Flag
Wed Jun 12, 2013
Patrick Meyers answered:
I am the rental specialist for Sellect Reality. I have been working this market for 7 years. I can find you what you may be looking for if it is out there. The rental market moves Very Fast on the good priced listing(s). I can show you how to beat out your competition with little know secrets. I have my own Property Management Company “The Horizon Group”. Where we manage many rental homes in North Georgia. Call me so we can discuss your rental requirements. You can view my reviews on Zillow at this listings http://www.zillow.com/profile/PatrickMeyers/


Agent: Patrick Meyers
Sellect Realty, Inc
Roswell, GA
678-641-2209
pmeyers@sellectrealty.net
www.sellectrealty.net
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0 votes 3 answers Share Flag
Wed Apr 17, 2013
Steven Ornellas answered:
Hi Keith,

All properties, whether distressed or not, are going into contract with little delay during this STRONG Seller's Market. So, you should keep ALL of your options OPEN.

Many Buyers start a property search only focusing on distressed property due to a belief they are cheaper and less difficult to buy than non-distressed property which is simply is not the case.

Basically, there are four types of "distressed/foreclosure" property. Here's a quick relative risk/difficulty scale for distressed property (1 being the most risky):

1) Trustee Sale-
You personally go to the County court house and bid on a home you probably have never seen the inside of, nor will have the opportunity to fully investigate. Seasoned investors need only apply. Cash/Cashiers check only, no financing. You may be interested in these two videos; “Foreclosure Auction Guide” http://www.youtube.com/watch?v=1CanJbhGdJM

2) Auction Company Sale-
A little better, at least you have a seat in a packed room where the auctioneer’s primary job is to get the highest offer from a much larger group than #1 above has. You are buying “AS-IS”. Do you have the ability to gauge cost of repairs you might see? This option is best for those who can walk a home and calculate refurbishment costs on the fly IF an investigative period has been allowed. If you are “gung ho” about an auction of this sort perhaps you should go through the steps to vet the property yourself and consider attending an event to see “how the sausage is made” and how comfortable you would be if you went this route.

3) REO-
When a property does not sell via #1 or #2 above you eventually see it come on market via a Realtor® MLS. You will still needs the skills to evaluate property condition and the good news is your Realtor® will be helping you to do so along with professional property inspectors you hire. The downside of an REO is the Bank typically only sells "AS IS" (meaning, the Bank will not typically make repairs even if you identify an issue) and the Seller's property disclosures are limited to what is statutorily required by law.

Before moving on to 4, 1 thru 3 above have a higher probability for issues with Title, referred to as "Title Defect" or "Cloud on Title", which means you would not have clean/clear ownership - not a comforting thought.

Some examples of situations affecting Title are:
-Outstanding mortgages/liens
-Restrictive covenants
-Outstanding future interests of others in the property
-Encumbrances
-Easements on the property
-Variations in the names of grantors and grantees
-Variations in the chain of title
-Outstanding dower interests.
-Adverse possession claims
-Structural encroachments
-Existing violations of equitable servitudes or covenants
-Zoning restriction violations

Here’s another video from the auction trenches: "Wells Fargo auctions off house they don't own" http://www.youtube.com/watch?v=yV6NeHoq1wA and here’s an interesting situation I have run into:

"REOs: How Buyers Can Avoid Hidden Unsecured Property Tax Liens" http://tinyurl.com/asvofat

4) Short Sale-
While there is nothing chronologically short about this option (plan on 60-90+ days before a Lender approval) it nonetheless is the closest relative to the non-distressed sale (where the Seller is selling “AS IS”/no Seller credits or repairs). The only real risk with these transactions is the underwhelming boredom and the overwhelming mystery of why it takes so long to obtain Lender Approval(s)!

Conclusion:
If you enjoy the “thrill of the deal” proceed with options 1 thru 2. If you like to know what you are getting for your money stick with 3 or 4 and non-distressed property.
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