I have written a series of lessons about short sales to educate Sellers, Buyers, and Realtors. This series consists of 13 posts which I am summarizing here and providing links.
Bradenton - Sarasota, Florida sellers and buyers can benefit from this timely advice.
Realtors across the nation are finding themselves working with Short Sales whether they intended to or not. Today's market requires that Realtors understand the Short Sale process. I hope this information helps.
Lesson One: What is a Short Sale?
Defines a short sale and describes the 12 options a Borrower may want to consider.
Lesson 2: What Are The Steps to a Short Sale? A simplified description of the 4 steps of a Short Sale.
Lesson 3: 7 Factors That May Lead to a Short Sale? Seven circumstances that may cause a Borrower to end up in a pre-foreclosure situation. And the 7 steps to determining if a sale is short or not.
Lesson 4: What is a Foreclosure and What is the Timeline? This post describes the foreclosure process and the Florida timeline.
Lesson 5: How a Short Sale Affects Your Credit Describes how a Short Sale affects your credit compared to a Foreclosure or Deed-in-Lieu-of-Foreclosure.
Lesson 6: Is a Short Sale Right for Me? How a Seller might think through the process to determine if a Short Sale is right for them. Seven options considered.
Lesson #7: Why Would a Lender Agree to a Short Sale? Describes why lenders would rather short sale a property than take it back in Foreclosure.
Lesson #8: The Hardship Test for a Short Sale Eight circumstances that might qualify the Borrower for claiming a hardship.
Lesson 9: What's in a Short Sale Package? Describes the documentation the Borrower and Realtor will need to provide the Lender when doing a Short Sale.
Lesson 10: What Your Realtor Needs to Know about Short Sales Thirteen things the Realtor will need to know how to accomplsh for a successful Short Sale.
Lesson 11: Ten Facts Sellers Need to Know About Short Sales The title says it all.
Lesson 12: What Buyers Need to Know About Short Sales Six things buyers must know about Short Sales.
Lesson 13: What Happens to the Forgiven Debt in a Short Sale? Discusses Deficiency Judgment, 1099's, and Dee-in-lieu-of-Foreclosure. New laws may be good news for Borrowers.
BONUS: 10 Short Sale Questions Answered by a Bank Loss Mitigator I sat in on a conference call with an active loss mitigator. You'll learn something from this call.
If this series has been a help to you, please let me know. It's nice to hear your comments.
(Copyright © 2007 By Dan Forbes, All Rights Reserved. This material is excerpted from Everything You Need to Know About Short Sales, by Dan Forbes)
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If you are buying or selling Bradenton/Sarasota Florida real estate please give me a call.
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Dan Forbes, PL is a licensed Broker-Associate and Certified Residential Specialist serving the Bradenton - Sarasota, Florida market. He leads the Forbes Advantage Team at RE/MAX Gulfstream Realty's Lakewood Ranch Office. To learn more about buying a home or selling a home in the Bradenton - Sarasota Florida Real Estate market please visit Dan on the web at 
This is great basic information. It seems we are all coming into contacts with short sales under the current market conditions. Thank you for putting this information together and sharing with all of us. I am going to stay tuned to your blog.
Thanks,
Ron
Dan - Great stuff, I am venturing into some Short Sales with some clients and I have sent them some basic information. I think this post will come in super handy. I will definitely bookmark it and reveiw it. It looks like you wrote a book, I will check into that too!!
Ronald - It's my pleasure. I hope this info is helpful.
Candace - Short sales in the future of every Realtor.
Bill - I have given thought to that. That's why I've written it all out.
Very helpful and full of information. I will bookmark it as a reference. i have been doing short sales and the more information that is available the better.
Stella - Thanks for your comment.
Bill - My publishing career has yet to get started. I guess I lack the confidence to pursue it.
Dan: Thank you for taking the time to put all this information in one place. I've bookmarked it, so I can return to it as needed.
Dan loved this series!!! You are a true short sale expert. Best of luck and keep doing what you do.
As you know Dan - this is a GREAT series and you should be proud of what you have achieved here. Extremely valuable information.
Today I got meme'd - and one of the things I have to do is meme three other people - you are my first! Oh and if you don't know what a meme is (like I didn't) please visit my blog.
This is a great series Dan, very well done. With short sales increasing in almost all markets, it is necessary to understand the process thoroughly.
This is great! I've bookmarked it so I can return to it later.
Krista - Thanks. I hope it helps.
Dan, Great job! You could package it and sell it easily . I have also bookmarked it, for further use. Good Luck Dan !
Dan thanks for sharing all this great info. I am going to read each and every one. On a side not I know Marie from WCR and she is wonderful!! You two are a wealth of information.
Melonie Haag
Thanks Dan, there is so much info here that I had to bookmark you. I was wondering what this short sale was all about and I see you have taken the time to explain.
Thx for the post and blessings....
Latonia - I'm glad to be of help.
Dan,
Not bad...pretty comprehensive. I am sure there are many Realtors out there searching for Short Sale information and this answers a lot of questions. Good work.
Cody - Thanks for reviewing and commenting.
Dan, Congratulations! That's a lot of hard work and good thinking. You are so generous to share.
Wendy Rulnick-- Emerald Coast, FL
Wendy - You are most welcome.
Dan, I appreciate the great information shared. I have a class scheduled at the end of the month but have a client that needs the help now. Thank you.