Sentences with phrase «bank accepted the short sale»

Not exact matches

It's similar to why a bank will accept a short sale to avoid foreclosure when someone's mortgage debt is no longer manageable.

A short sale is when a bank will accept an offer on a house that is less than what the current owner owes on the property.

This type of short sale means that the bank will forgive the remainder of the debt on the mortgage and accept the sale of the home for less.

However a bank will be less likely to accept a short sale offer for the sale if the offer price is lower than its BPO.

In order for the bank to accept a short sale deal, the lender must see some potential gain in granting a short sale; so technically, not everyone can qualify.

A short sale occurs when a bank accepts the sale of a property at an amount less than what is owed.

A short sale, in which the lender accepts less money than it is owed, provides a win - win - win for the buyer, bank, and even the seller.

The problem with short sales is that the real estate agents will accept multiple offers and submit all the offers to the bank.

With a lot of agents in our area not wanting to show «short sale» listings I use this offer to get from the bank what they will really accept and then can market the home with an approved value.

We put an offer in on a short sale, the bank counter and we accpted the counter we are waiting on the bank sign off on the offer we accepted how long do we have to wait.

Also, keep in mind that, if the bank «accepts» less, there is less tax benefit to them than to just foreclosure, hence another layer as to why short sales are tough to get approved.

The sooner the bank gets that money from the short sale, the sooner they accept the net proceeds from the short sale transaction, the sooner they can take those funds, invest them in something else, and realize the time value of money that we get from interest.

In a short sale the seller (the owner of the property) not the bank decides who to sell the property to or whom to accept a contract from with (secondary) the approval of the bank.

We dropped the price of the home since our bank would accept a short sale to the cost of the loan.

If that is the case, consider seeing if the bank will accept a short sale, in which the bank takes the proceeds of the sale — even though they are less than what you owe — and considers it payment in full for your mortgage debt.

There could also be some tax ramifications so be sure to check with a tax specialist.With a short sale, the bank agrees to accept less than the balance owed and MAY forgive any deficiency — also, you keep ownership of the property.

Almost all my listed deals since the investor market has gotten much more competitive have been short sale deals where the seller accepted (and bank ultimately) approved a price that was much less (15 - 30 % I'd say) than the list price.

Tip: Be sure you contact the bank's loss mitigation department, which will be the group to decide whether to accept a short sale, rather than the collection or customer service department, which is only interested in recouping past due loan payments.

A Loxahatchee short sale is when you negotiate an agreement with your bank for them to accept less than you owe to them when you have a buyer for your home.

Some agents suggest unrealistically low price tags on the short sale, which the bank will never accept.

On this webcast, Kimberlee talked about how to influence the BPO or appraisal and how to use repair estimates to convince the bank to accept your short sale offer.

A great example of this is commonly known as a pre-foreclosure «short - sale» where a bank accepts less than owed for the property in order to sell it quickly to avoid a lengthy foreclosure process or simply to remove any non-performing assets from their books.

Florida Realtors Want an Online Search Site Containing Bank - Approved Short Sale Listings — A List of Homes That Lenders Have Agreed to Short Sale and The Price Which They Will Accept

Around ten days ago, a group of Florida Realtors appeared before Congress and asked for the federal government's help for Florida homeowners to get short sales respected and accepted by banks, lenders, and financial institutions.

You'll need to find someone to help you work the short sale if you don't know what you are doing and you won't find out if the bank will accept your offer, or if they'll counter until you are working it.

If $ 116,000 is the balance left on a mortgage and a short sale of $ 120,000 is accepted by the bank, is there still a deficiency?

With a lot of agents in our area not wanting to show «short sale» listings I use this offer to get from the bank what they will really accept and then can market the home with an approved value.

To your other comment about short sales, while they are available they are neither short or easy to negotiate with the banks and often take several months to complete, if they even accept your offer...

You're right, banks won't accept assignments on either short sales or REOs.