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Michelle Burgos, CDPE~Short Sale Expert Miramar,Pembroke Pines,Broward REALTOR®

THERE IS LIGHT AT THE END OF THE TUNNEL....

We're all facing tough times. The reality is, you or someone you know may be confronted with true hardships that make the future seem uncertain. But don't let the possibility of foreclosure be a means for panic.

There are better paths ... and as a CDPE-designated agent, I can help you find the best path for you and your family.

Now is the time to learn your options. Feel free to contact me with your questions about first steps.

www.MichelleCanHelp.com * www.RealEstateWish.com

Buying Short Sales, Foreclosures, Bank Owned Properties (REO) in a Buyer's Market - Part 1

When looking to purchase a short sale or foreclosure you should discuss the following with your agent:

  1. Multiple Contracts - When you are purchasing a home and put it ‘under contract' you should be the only buyer pursuing that property. If the listing agent will be submitting your contract as one of many, to the lender or even worse signing multiple contracts you are in essence entering into a blind auction for real estate. Unless you are an experienced investor, this is unlikely a situation you will be comfortable in.
  2. Inspection Allowances - Regardless of what type of property you decide to purchase you need to make certain you have the right to have a professional fully review the property and report to you their findings. This is critical.
  3. Submit a Strong Contract - treat a short sale or an REO like any other contract and put your absolute best offer forward. If you truly want to purchase the property in question make your offer count.

Hire and Educated and Highly Experienced Agent

A short sale or foreclosure purchase is not a typical real estate transaction. They can be difficult and come with their own specific challenges however the right agent can help guide you through this process and help you purchase the property you are looking for.

www.RealEstateWish.com * www.MichelleCanHelp.com

Short Sale Process- How do I get this done?

Short Sale Process- How do I get this done?

In order to successfully sell your property through a short sale, you will need to fully cooperate with your real estate professional. Your assistance in this process will give you the highest likelihood of a successful outcome, a sale and, most importantly, a foreclosure avoided.

Here is a simple list of items you can take care of immediately:

  1. Prepare your property for sale. This includes: remove all clutter, make sure all lights work, clean out your property and make it as presentable as possible. Your agent will have additional suggestions for you. However, there is no reason not to get started now.
  2. Gather the required paperwork and documentation that your agent will need in your fi rst meeting you have. See the list below.
  3. If you believe a short sale is the right option for you, list your property with the qualified CDPE professional that provided you with this information. They will help guide you through this process.

www.MichelleCanHelp.com

Michelle Burgos, cdpe, gri, ahwd, lic. mortgage broker

Paperwork Needed for a Loan Modification or Short Sale

Paperwork Needed for a Short Sale

In order to demonstrate to your lender that you qualify for a short sale, your agent will need the following documentation:

  • Two months' most recent
  • mortgage statements (all mortgages)
  • Two months' checking
  • account statements (all borrowers if separate)
  • Two months' saving account
  • statements (all borrowers if separate)
  • Two months' other account
  • statements (all borrowers if separate)
  • Last two paycheck stubs (all borrowers)
  • Two years' tax returns
  • Hardship Letter (see samples)
  • Financial Worksheet (provided)
  • Any other documentation to
  • help your agent prove your hardship
  • www.MichelleCanHelp.com

    Michelle Burgos, cdpe, gri, ahwd, lic. mortgage broker