One thing that I am extremely proud of is the fact that every short sale that I have listed has received
short sale approval from the lender.
One thing that I am extremely proud of is the fact that every short sale that I have listed has
received short sale approval from the lender.
Leaving the purchase and sale signing date until
after short sale approval ~ You are either going to purchase the home or you aren't.
Not agreeing to wait 90 days for
short sale approval ~ The buyer we will be looking for is going to be committed to the property.
Not getting a financing commitment right away ~ If you are going to purchase one of my short sale listings you will apply and get your financing
before short sale approval.
We are supposed to close next week, but we still don't have the
final short sale approval from either of their 2 mortgage holders.
For example if the listing agent allows you to do a home inspection after
short sale approval do you really think they have any clue what they are doing?
Often, extensions, if granted, are not a rewrite of the
existing short sale approval letter but are an amendment or supplemental to the original approval.
Our «pay for performance» model ensures that no fee will be paid to our company unless we are successful in
obtaining Short Sale approval for the homeowners.
Not getting a financing commitment right away ~ If you are going to purchase one of my short sale listings you will apply and get your financing
before short sale approval.
Not agreeing to wait 90 days for
short sale approval ~ The buyer we will be looking for is going to be committed to the property.
For example if the listing agent allows you to do a home inspection after
short sale approval do you really think they have any clue what they are doing?
We are supposed to close next week, but we still don't have the final
short sale approval from either of their 2 mortgage holders.
Leaving the purchase and sale signing date until
after short sale approval ~ You are either going to purchase the home or you aren't.
However,
once short sale approval is obtained, the buyer can close on the transaction as usual and without paying any higher closing costs.
The Short Sales that closed during May were homes that likely went under contract anywhere from December 2013 through February 2014, allowing for a minimum of 3 months
Short Sale approval processing time.
This means finding a buyer who will pay something in the ball park of market value and be willing to wait the time it takes to get
short sale approval which is typically longer than a regular transaction.
About the author: The above Real Estate information on Lenders choosing foreclosure
over short sale approval was provided by Bill Gassett, a Nationally recognized leader in his field.
While I have yet to have this happen (knock on wood) I know of other Realtors who seemingly have had a situation where a 2nd lien holder has chosen to foreclose instead of
granting short sale approval.
Reviewed, corrected and organized short sale documents prior to submitting to banks as requested to ensure proper short sale approval
In my area, home inspections are not done until the bank has
given short sale approval - otherwise, the buyer may pay for an inspection on a property that isn't really available.
For example, a letter issued for a Bank of America short sale might be different from a Wells
Fargo short sale approval letter, depending on:
He is also a licensed California Real Estate Broker and since 2006 has performed more than 100 real estate related transactions including sales, purchases, leases, and 3rd
party short sale approvals with lien holders.
I have received 2
short sale approval letters in the last two years and twice the seller's bank (Bank of America) could not follow through and agree to a closing date.
Phrases with «short sale approval»