First off congratulations! Buying a short sale is a great decision. Most short sales usually sell for 3-5% less than other comparable homes.
So you get the advantage of getting a good deal. Now, I am sure you are asking, “Why are short sales a bargain?”
The reason is that a short sale takes longer than a normal real estate sale. You have to wait 30-60 days for the seller’s bank to approve your offer.
In addition, some agents do not understand short sales. They talk bad about them even though they have not educated themselves on how they work.
Here are a few things you should educate yourself on before making an offer on a short sale.
How experienced at short sales is the seller’s agent? If the seller’s agent has little short sale experience, then you should probably look at another house.
How many liens does the seller have? If the seller has three or more mortgages and/or liens, then you should pass. It’s hard to make a short sale work in these situations.
Remember the Aesop’s Fable about the monkeys with their hands in the jar? Well, all three lienholder’s hands are in the cookie jar. But, none will put down any cookies so they can pull their hand out.
The bottom line: One or two mortgages and/or liens is ok. Three or more is not.
When we talk, I will explain how the process works in detail and answer any questions you may have. Or, if you prefer, you can call me at (239) 560-3149
Discover how other sellers successfully completed a short sale and request a free consultation by clicking here.
Thinking about a loan modification? Our Cape Coral loan modification kit has the instructions you will need to get a loan modification approved with your bank. Click here to request a copy.
Thanks for reading this, Donna Bishop.
Donna is a Real Estate an Agent at Jones & Co. Realty.
Former Owner/Broker of A & B Mortgage Brokers of Florida.
Cape Coral Short Sales Realtor
Fort Myers Short Sales REaltor
Lehigh Acres Short Sales Realtor.
Lee County Florida Realtor
SW Florida Realtor
Phone: (239) 560-3149. email@example.com.
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Donna Bishop specializes in loan modification assistance and short sales in Cape Coral Florida. Cape Coral Loan Modification Help. Cape Coral Loan Modification Help. Cape Coral Short Sales Cape Coral FL Short Sale Cape Coral Short Sale Realtor Cape Coral FL Short Sales. Cape Coral Realtor. Fort Myers Loan Modification Help. Fort Myers, Fl. Fort Myers Short Sales Realtor. Lehigh Acres Loan Modification Help. Lehigh Acres, Fl.Lehigh Acres Short Sales Realtor.
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Donna Bishop, Jones & Co. Realty, and the Stop Foreclosure Institute are not affiliated in any way, shape, or form with the government. Our services have not been reviewed or endorse by the government or your lender. Most lenders willingly work with agents on short sales. Why?
Because most short sales are beneficial to a lender. If you accept our offer to help you on a short sale, your lender may not agree to a short sale or to modify your loan. We do offer a loan modification kit.
However, the likelihood of negotiating a modification is like everything else in life. It takes work and persistence to convince your lender to modify your loan. No matter what you or we do, your lender may not approve a loan modification.
We do not recommend that you stop paying your mortgage, because this will cause damage to your credit and could cause you to lose your home. Because we know avoiding foreclosure is so important to any homeowner, we recommend that you speak with the appropriate legal or tax advisor before making any decision.
This is not intended as legal, technical, or tax advice. Please speak with a licensed professional before making any decision. Information is deemed reliable but not guaranteed as of the date of writing.
You have the option to reject a short sale or loan modification from your lender if it does not meet your approval. If you decide not to go thru with the short sale, then you do not have to pay us our fee. We normally make a real estate sales commission for helping you on a short sale.
The views expressed here are Donna’s personal views and do not reflect the views of Jones & Co. Realty.