Ready for a quick sell!! Try an auction. Yes you can do it with proper marketing and hard work and here's how.
We have tried six of these in the last two months and have sold four. It is great also to get the home priced right. I try to hold them within the first two weeks.
The anatomy of a short sell and how to operate through their procedures.
Every lender is different, but I have found that you have to get to the loss mitigation dept. and you have to stay on top of them to the point of calling sometimes as much as four times a day. Get your offer to the board as quickly as possible because they will ultimately make the decision no matter what you've been told. It has to go to the board and most boards meet every thirty days and go over short sales for the past thirty days, then make the decisions to accept, turn down or put on hold.
Here is how I package a deal, hope it helps.
I include a hardship letter from the sellers and it has to be hard, not just that the market is bad (boo hoo) if that is all you've got forget it. It has to be a Job loss, medical crisis, something that means the seller cannot pay this loan back.
Then the board wants to know how close is the offer to the loan amount. I have found that banks will take as much as 35% less than owed. I have heard but not confirmed that it cost the banks as much as 28% to foreclose including trying to collect the loan, court cost, attorney fees etc., then you can figure the cost of maintaining the property etc. and use that as your benchmark.
I include a HUD 1 from the title company ( this is a must), I have found you can get from 3 to 9% realtors fee depending on the bank and most will pay upwards of 6.
The Board will want an appraisal less than 30 days old if they don't have one they will order one, this is where time is wasted by the banks because everybody and his brother at the bank thinks someone else has ordered it. I furnish them with two BPOs if possible, one from me and one from another agent at another company that I work closely with. The board is really impressed with this and can shave a lot of time off your deal.
I take photos of the comps as well as the subject and send with the package.
Preapproval letter for buyers, make sure it doesn't show more than the offered price ( common sense you would think).
Even with these you're looking at 60 days depending when the board meets but if these are not done it will take 4 to 6 months.
It goes without saying but I will say it anyway. Remember there is a $10 an hour clerk that is answering the phone and most of the time handling the deal and they leave at five everyday whether you like it or not. So always and I mean always be nice to everyone you talk to, it really does get you to the next person or level.
Yea right, no I just lost it to the government. If churches can survive off 10% why can't the government at least live off less than 35%. People ask me all the time when will it stop, my answer is always the same when the American people get tired of it. Whether it is by voting or a revolution that is when it will stop.
Remember I said it first, I think. The government will be bailing out Bank Of America within a year. Although I know they had to bailout Fannie and Freddie. It should have never gotten to that. Freddie and Fannie were not always independent of the government and hasn't always had a CEO making millions and by the way the government is handing out severance packages to these bozos. If it was you or I we would be headed to jail or at the very least headed home with nothing period. The government a while back deregulated the banks and then took Fannie Mae independent of the government or private with no regulation depending who you're talking too, then they created Freddie Mac to do loans Fannie couldn't do. Remember how this was going to put everyone in a home well it did and here we are. I'm sorry but if a person cannot balance a check book or cannot afford to put something into their home investment then they don't need to own a home. I put down 20% (which is probably too much by most standards) when I bought my first home and I have protected everyday since. When in the 80's they told me to take out equity and put into the latest stock, I didn't. Along with all the other fads and maybe a safe one or two, I didn't. When my homes value went through the roof in 05, I didn't borrow against it, didn't use the equity to buy condos or try to sell and move up. I stayed calm and now my home will be completely paid off this year.
I just want to know when will they come bail me out. I'm sorry but I don't agree with bail outs because it's the people that get hurt. With less taxation people wouldn't have to work as long or as hard to make it in this world. Then they could stay at home longer with their families or at least enjoy life a little more.
Perdido Key, Florida Real Estate
We here at the Charles Stallions Real Estate Services continuously monitor local real estate statistics to keep our clients informed and ahead of the real estate trends. Below you will find Perdido Key, Florida real estate statistic, for last month scoll down.
A Snapshot of the Perdido Key, Florida Housing Market
Available Condos = 332
New Condos on the market = 21
Current Homes Under Contract = 17
Homes Sold In Last 30 Days = 10
Average Dollar Per Square Foot = $238.34
Average Days On The Market = 375
Latest Assumption Rate = 33.2 months
Average Sales Price = $608,400
Sell Your Home Now!! $1495 FLAT FEE: (To find the value of your home with a free, over-the-net home eval, please visit: http://.charlesstallions.com
If you would like a free list of homes for sale in this area/neighborhood, would like more information about Pensacola or would like to be the first to know about hot new listings before other buyers do including for sale by owners , then give me a call at: 1-800-309-3414 or e-mail me at charles@charlesstallions.com with hot new listings in the subject line.
Charles Stallions
Charles Stallions Real Estate Services
800-309-3414
www.charlesstallions.com
charles@charlesstallions.com
Gulf Breeze, Florida Real Estate
We here at the Charles Stallions Real Estate Services continuously monitor local real estate statistics to keep our clients informed and ahead of the real estate trends. Below you will find Gulf Breeze, Florida real estate statistic, for last months stats scroll down.
A Snapshot of the GulfBreeze, Florida Housing Market
Available Homes = 455
New listings this month = 49
Current Homes Under Contract =49
Homes Sold In Last 30 Days = 33
Average Dollar Per Square Foot = $97.23
Average Days On The Market = 134
Latest Assumption Rate = 14.25 months
Average Sales Price = $282,887
List Price to Sales Price = 93.5%
Sell Your Home Now!! $1495 FLAT FEE: (To find the value of your home with a free, over-the-net home eval, please visit: http://.charlesstallions.com
If you would like a free list of homes for sale in this area/neighborhood, would like more information about Pensacola or would like to be the first to know about hot new listings before other buyers do including for sale by owners , then give me a call at: 1-800-309-3414 or e-mail me at charles@charlesstallions.com with hot new listings in the subject line.
Charles Stallions
Charles Stallions Real Estate Services
800-309-3414
www.charlesstallions.com
charles@charlesstallions.com
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Pensacola homes for sale. Free Florida foreclosure list, relocation packages, job reports or online home evaluations. Homes for sale or rent in Pace, Gulf Breeze, Pensacola, Florida.
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