" If you owe more than your home is worth you can Short Sale your home"
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Short Sale Information
You can find great local Pleasanton, California real estate information on Localism.com Mike Jackson is a proud member of the ActiveRain Real Estate Network, a free online community to help real estate professionals grow their business.
In todays market home owners are facing a definite challenge to sell their homes because of the vast amount of homes for sale. As we all know defaults and foreclosures are growing rapidly everyday and some people judt didn't know that they could still sell their home even though the value is less than what the mortgage is.
In order to have a successful short sale there needs to be a hardship in the sellers life like they lost their job, injury prohibiting them from working, etc. Most banks will begin to negotiate when they know the seller is in default and can't make the payments. They will want to see an offer on the home, the sellers income statements for the past couple of years and most recent pay stubs.
Once the offer comes in the bank will ask for the listing agreement and a net sheet to see how much they are possibly losing on the sale of the home. The lender will then perform a bpo or an appraisal so they can get an idea of what they think the home is worth and should sell for.
If there is one lender the short sale is that much easier because only one lender at this point needs to approve of the sale. Of course if there are two lenders then they both would need to approve of the sale in order for it to be successful.
Once the sell is approved then the lender will normally give you 30 days to close the sell of the home like a normal transaction. Feel free to contact me regarding the rules behind an investor purchasing a short sale as an investment property, or a buyer trying to purchase a short sale as their owner occupied residence.
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"SHORT SALES IN TODAYS MARKET"
"DO SHORT SALES WORK?"
- Position Yourself for Short Sale Success | RISMedia
- RISMEDIA, December 30, 2009?Being a loan modification and short sale trainer for the last few years, I have heard numerous complaints about why agents dislike.
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You can find great local Pleasanton, California real estate information on Localism.com Mike Jackson is a proud member of the ActiveRain Real Estate Network, a free online community to help real estate professionals grow their business. I have recen...
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- richgerman richgerman Aug 19, 2008 @ 2:29 am
- thanks for the tips... you have plenty of useful info here...
5stars, favored
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- driewe driewe Aug 8, 2008 @ 4:57 pm
- Great lens, I learned something new. 5 stars
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- bjbook bjbook Jul 14, 2008 @ 7:08 pm
- Hey man, Great Lens!!!
Its a FIVER!
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- Ileneonhealth Ileneonhealth Jul 10, 2008 @ 6:21 am
- Great ens. Keep up the good work!
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- Bill_Chechel Bill_Chechel Jul 8, 2008 @ 2:58 pm
- Nice lens. Some great info here on short sales.
5 star. Come see my home business lens .
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- Matthew_Ferry Matthew_Ferry Jun 25, 2008 @ 9:48 am
- 5 stars for your lens man..great job.. =)
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- BillGassett BillGassett Jun 19, 2008 @ 9:50 pm
- Nice site covering short sales!
Bill Gassett
RE/MAX Executive Realty
Holliston MA Real Estate
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- alwintraffics alwintraffics Jun 13, 2008 @ 5:28 pm
- Hi NICE POST!! PLease visit my lens too! Cheers!
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- PaulMontelongo PaulMontelongo Jun 11, 2008 @ 7:38 am
- Very informative! Thanks for sharing. Please take time to visit my lens. A feedback from a realtor like you would be greatly appreciated.
To your success,
Paul Montelongo
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- Ladybird Ladybird May 19, 2008 @ 11:43 am
- Great lens with lots of good info.
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- dtbs dtbs May 8, 2008 @ 12:15 pm
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- BFuniv.com BFuniv.com May 7, 2008 @ 2:26 pm
- This looks like a much better option than a "quitclaim in lieu of foreclosure" action. Thanks for the information.
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- carrieokier carrieokier Apr 24, 2008 @ 4:37 pm
- Thanks for the info- I never heard of it before. 5 stars!
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- GetSmart GetSmart Mar 31, 2008 @ 7:53 am
- short sales are becoming more relevant, as the number of foreclosures continue to raise.
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- driewe driewe Mar 18, 2008 @ 3:41 pm
- Great lens, 5 stars
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- BizMom BizMom Mar 14, 2008 @ 7:22 am
- Thanks for stopping by my Lens and giving me 5 stars! Returned the accolades, gave you 5 stars :)
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- beachbum_gabby beachbum_gabby Mar 14, 2008 @ 2:04 am
- looks like very good idea. Cheers to you Realtormj! 5*
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- Prestigecore Prestigecore Mar 12, 2008 @ 2:39 pm
- Hey great job, thanks for dropping by as well!!!
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- Nestor Nestor Feb 29, 2008 @ 8:35 am
- Thank you for stopping by our lens about West Palm Beach Florida Real Estate. We like your lens on short sales. Good job.
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- Nice info MJ. ~Music Resource~
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- there goes your 17th set of stars!
your lenses are helpful
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- Good info, especially in "times like these"!
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- RealtorMJ, Thank you so much! Do you think you can reccomend my page to some of the people you know on Squidoo? Please and thank you!
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- Hey! Thanks. You don't have such a bad page yourself! You may not believe this, but I am only 10 years old!
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- AdriennePetersen AdriennePetersen Dec 21, 2007 @ 9:41 am
- Interesting info, hope I never need to use it! Thanks for visiting!
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- Victoria_Neely Victoria_Neely Dec 20, 2007 @ 6:08 pm
- This sounds like good stuff to know...
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- Vishenda Vishenda Dec 13, 2007 @ 9:49 am
- I love the way you presented the information....helpful!
thanks
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- tonyab tonyab Dec 11, 2007 @ 11:52 am
- Hey thanks for paying my Article Marketing Strategy Lens a visit. I love this lens - part of my work is marketing for a real estate appraisal company, and I'm familiar with this area. This info is really useful! 5 stars.
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- MattRosario MattRosario Dec 8, 2007 @ 10:05 pm
- Very cool site, get to see a real business in action! i have a lens on foreclosure magic which your readers might like~!
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- cheers to your 10th stars! bravo lens!
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- Thanks for your visit to my lens. Yours have great content too.
Friendly. Yves.
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- Hey there, thanks for the tips. Cool video. 5-stars!
If you have time, stop by my lens Your Health and Freedom. Thanks!
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- Great lens, 5 stars!!!
I have a lens on computer printers which you are your readers may be interested in.
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- great info, high five
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- Realtormj,
Great information on real estate here and the rest of your other lens. I'll be sure to book mark your lens in case I need an expert to consult! I like the video too..5 stars...cheers, all the best always!
p.s- thanks for coming by my lens earlier and for the kind words..
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- SemperFidelis SemperFidelis Sep 15, 2007 @ 5:30 pm
- I especially like the video you offer on this one. :o)
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- rms rms Sep 14, 2007 @ 8:31 pm
- Interesting. I'd never heard of this before.
by ShortSaleRealtor
I was born and raised in Oakland California. I have always wanted to be a major league baseball player. Four surgeries later I found myself working as...
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