Questions Buyers Should Ask When Buying A Short Sale
Are you looking to buy a short sale? Before you make an offer, you need to check and see how competent the agent handling the short sale is at short sales.
This agent will usually be in charge of processing the short sale with the lender.
If the agent is a genuine short sale expert and knows what they are doing, then you have a very good chance of the short sale being approved and buying the home.
I’ll show you how to separate the experts from the pretenders in this post. If the agent is not a genuine short sale expert, then you are probably wasting your time. You should go find another home to buy.
First, ask them how many short sales they have successfully sold. If they have only sold 2-3 short sales, then the odds are not in your favor. You risk wasting months of time waiting for an answer on the short sale.
Next, ask them how many loans are on the property. If there is only 1 loan, then you know two things. First, they know what they are doing. Second, this is relatively simple short sale.
If there are two loans, then the property is still worth considering. However, if there are 3 or more loans, then you might want to look at another home. Short sales with 3 or more loans are very difficult.
The first mortgage won’t give enough money to the second and third position mortgages. The second and third position mortgages won’t release their lien without more money.
At the end, everyone loses (that is another story for another day.)
Lastly, ask who the lenders are. If the lenders are Bank of America, or another notoriously bad lender at short sales, then you might want to avoid the property.
However, a competent short sale agent can handle a Bank of America short sale with ease. Thinking about a short sale?
Short sales can drag out giving you time. It takes maybe sometimes a month to sell the house. Then, the short sale negotiations start. They can drag out for 3-6 months. So instead of foreclosure here is what you should do.
Here is a tactic you can use to delay the foreclosure process and even stop a foreclosure sale. Stop Your Foreclosure With A Short Sale Click here * http://instantbizsites.com/VaughnRice/stop-foreclosure
Thinking about a short sale? I can help you short sale your property and get back on your feet. Send me an e-mail at firstname.lastname@example.org I will contact you for a free consultation. Click Here *
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 813-679-3477 or visit at http://www.isellyourfloridahome.com/
Discover how other sellers successfully completed a short sale and request a free consultation by clicking here *
Helping you sell & buy homes in Tampa, Brandon, Riverview, and Valrico. . The Tampa bay area.
Thanks for reading this, Vaughn Rice.
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View My Office homes for sale at http://companylistings.drshortsale.mfr.fusionmls.com/
Vaughn Rice specializes in assistance with short sales in Tamp Bay Area of Florida
Vaughn Rice, Quicksilver Real Estate Group is 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. I can offer you loan modification information.
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 Vaughn’s personal views and do not reflect the views of Quicksilver Real Estate Group.
Helping you sell & buy homes in Tampa, Brandon, Riverview, and Valrico. . The Tampa bay area. E-mail: email@example.com or visit at http://www.isellyourfloridahome.com/
Phone: 813-679-3477 Click Here *
This information on Questions Buyers Should Ask When Buying A Short Sale Is provided as a courtesy to our viewers to help them make informed decisions.