Short Sales don't have to take long.....
We CLOSED this week on a Short Sale Transaction in just 34 days from reciept of the written offer to purchase!
Short Sale Listings Priced Below the lender ordered BPO, attracks savvy buyers who know the local market prices well enough to recognize a good deal.....and Multiple Bids may result in offers thousands above the list price.
Of course there were many time consuming obstacles to be overcome in the process of working to complete the deal.....all the way up to the final approval by the lender of the HUD 1 Closing Statement.
In our experience of closing short sales, each entity, whether it be Local Banks, Credit Unions, or large name brand national chain lenders are unique unto themselves, requiring their own very specific guidelines for successful approval.
There are many factors Indiana Realtors who list short sale properties need to be aware of when negotiating with lenders to achieve the successful completion of a SHORT SALE.
Knowing State Laws, heeding advise from our IN State REALTOR Association Legal Hotline Attorney, and most of all concise communication skills and persistent diligence...nothing happens without the later:)
Thinking of buying or selling a short sale property?
Give us a call @ 219-405-1232 - we'd be happy to be your REALTORS in this process.
Talk To Jeff
& Grace
Safrin "Spouses Selling Houses' TM
Real Estate Brokers serving Lake, Porter, La Porte, Jasper & Newton Counties in NW IN.
www.NorthWestIndianaRealEstateBlog.Com
NW INDIANA remains a Great REAL ESTATE MARKET check our past---> SOLD HOMES !
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Disclaimer: The opinions expressed by those providing comments are theirs alone, and do not reflect the opinions of Jeff and Grace Safrin of F.C. Tucker Advantage Realty. Jeff and Grace Safrin and F.C. Tucker Advantage Realty are not responsible for the accuracy or content provided
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Broker / Owners, F.C. Tucker 1st Team Real Estate Northwest Indiana. Full Time, Full Service REALTORS since 1999 Serving Lake, Porter, La Porte, & Starke Counties. Life Member Presidents Club
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Although short sales are subject to lien holder approval, I think you need to be careful negotiating multiple offers with sellers since a seller can only sell the property to one party. Doesn't negotiating multiple offers expose already vulnerable sellers to a possible lawsuit? Pending lien holder approval just means that the lien holder has to approve the short sale but the seller is still the owner of the property and therefore enters into the contract with the buyer. Do you take multiple offers as "back up contracts" to protect your seller?
I understand we can take multiple offers for REO because the bank will only sign the ONE offer that they agree to work with - that is the point of differentiation.
Good morning. Vigorous writing is concise.
I am from Zambia and learning to speak English, give true I wrote the following sentence: "On the italian riviera fine art photography and gift ideas."
Regards :p Jude.