Trulia Community - Advice from neighbors and local experts

Find Your Community
We couldn't find that location. Please try again.
Get Expert Advice

Home Selling in 22180 : Real Estate Advice

  • All11
  • Local Info2
  • Home Buying2
  • Home Selling3
  • Market Conditions0

Activity 4
Fri Aug 10, 2012
Mack McCoy answered:
It means that the time periods specified in the contract are rigid - for example, if it states that the seller will deliver a disclosure document within three business days after mutual acceptance, the buyer can void the contract on day 4 - the seller has then lost their ability to keep the buyer under contract. ... more
0 votes 7 answers Share Flag
Mon May 14, 2012
Faiza Alvi answered:
Very first time hearing of selling a house on ebay ~ won't suggest but would like to hear more about it.
0 votes 5 answers Share Flag
Thu Mar 29, 2012
Lauryn Eadie answered:
The documents that need to be submitted in a short sale are the agency documents between the seller and the listing agent (Listing agreement).
In addition the bank will request:

2. A copy of the ratified sales contract
3. A copy of the sellers past 2 or 3 years of W-2's and tax returns
4. Most recent 2 months pay stubs
5. Most recent 90 days of bank statements from all accounts.
6. Letter explaining why you can no longer make payments on the home or why the need to sell. (Hardship Letter).
There are several reasons the bank will accept as a legitimate hardship: loss of primary family member, medical, job loss in which income is not able to be recouped based on economy, relocation for job where that job can not be replaced in the current area, sometimes divorce, and a few others.
... more
0 votes 4 answers Share Flag
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
... more
0 votes 1 answer Share Flag
Search Advice