Second, there is possibly a misconception that selling a
home in a short sale saves one's credit score.
Dual agency also applies to a single agent who represents both the buyer and the
seller in a short sale transaction.
Homeowners are also required to actively participate
in the short sale process, including returning documents within the required time frames and maintaining contact with the mortgage servicer.
The fund employs as its investment strategy a program of
engaging in short sales of securities included in the underlying index and investing to a significant extent in derivative instruments.
Nonetheless, these are typically easier to deal
with in a short sale transaction than a bank owned transaction.
There should be language
in the short sale approval letter that states whether the lender has retained the right to collect what you owe in the future.
Interview a few practitioners and ask them how many buyers they've
represented in a short sale and, of those, how many have successfully closed.
Folks these are the kind of things that go on every day
in short sales because seller's do not do their home work in picking a short sale Realtor to work with.
Well, because this end - of - the - year legislation extends prior legal protection from income taxation of any forgiveness of mortgage
debt in a short sale.
Unfortunately, most homeowners pursuing short sales can't afford to waste that much time for assessing an agent's
expertise in short sales.
Agents must become
experts in the short sale market, because regardless of the name, short sales are not short, and they create anxiety for all parties involved.
A 16 - year veteran of the business, he got his
start in short sales three years ago when he needed to sell his own home at a loss.
Due to the seller's financial hardship, most or all of the closing
costs in a short sale will need to be paid by the buyer.
I agree that we need as much education
in short sales as possible to best represent our clients.
With the
rise in short sales happening all around the country it is important to know what your responsibilities are as an agent representing a seller in this situation.
Anyone who regularly participates
in short sales knows that almost every single transaction is different.
I consider myself a pioneer
in the short sale arena, completing my first in 2003 when practically no one had heard of a short sale.
A shorter timeline is everyone's
goal in a short sale — and here are some ways to help you actually achieve it.
I'm not about to lose sleep over a bank losing a fraction of the money a family is
losing in a short sale or deed in lieu.
Often
times in a short sale an owner has absolutely no cash and it would be impossible for them to contribute anything at closing.
Let's go through the different
steps in a short sale so you know exactly what you are getting yourself into.
Having poor seller
representation in a short sale is far worse than a traditional sale because the home owner is relying on this person to help them navigate out of a financially difficult time.
The biggest
advantage in a short sale is the shortened time frame in which you will be able to purchase a home in the future.