Short Sale For Sellers
A short sale which is also known as a pre-foreclosure, is when a property sells for less than the balance owing on it's mortgage.
You would use a short sale as an alternative to foreclosure if you a facing some of the various scenarios:
• Long-term hardship
• You may owe more than what your property is worth
• You do not qualify for refinancing or modification on your mortgage
• You are delinquent on your mortgage payments with no way to catch up.
• Divorce, medically disabled or illness of the seller; bankruptcy, death, unemployment
• And more...... Contact your short sale expert at Alliance Associates Realtors for a free consultation.
Lenders can make the short sale process very difficult for the homeowners to navigate; we are not afraid of the lenders. Alliance Associates Realtors Brokers are ADVOCATES for their clients. We know the banks; their process; and requirements. We stand up for our clients and go head-to-head with your lender.
Our experience speaks for itself. Let us help you with your short sale. Call us today.
Let’s be clear, if your loan is delinquent by a month or more and your mortgage company is now calling more and more frequently, you are in imminent danger of losing your home through foreclosure. Your missed payments have now placed your property in a delinquent status with your bank and could jeopardize your dream of homeownership through a process called “Foreclosure”. Call your Alliance Associates Realtors Broker and let us help you! Our consultation cost you nothing but some of your time - it could save you years of trouble. We are here to support you through this time of uncertainty.
Short Sales
A short sale which is also known as a pre-foreclosure, is when a property sells for less than the balance owing on it's mortgage. A short sale can take place when your mortgage lender/bank agrees that you can sell your home and pay off all (or a portion of) your mortgage debt. In order for a short sale to close, all parties must be agreement to take less than what is owed on the property.
You would use a short sale as an alternative to foreclosure if you a facing some of the various senarios:
• Long-term hardship
• You may owe more than what your property is worth
• You do not qualify for refinancing or modification on your mortgage
• You are delinquent on your mortgage payments with no way to catch up.
• Divorce, medically disabled or illness of the seller; bankruptcy, death, unemployment
• And more...... Contact your short sale expert at Alliance Associates Realtors for a free consultation.
Alliance Associates Realtors Brokers are advocates for their clients. We know the banks and their requirements. We stand up for our clients and go head-to-head with your lender who may make your process difficult to navigate.
Short Sales for Buyers
Homebuyers are nervous when they hear the term "short sale." A short sales can a homebuyer's opening to get into a home at a reduced price. It's buying a home at a discounted price. You may be able to get into your desired location at a reduced price. Now we know that sounds good to you, but continue reading....
A short sale which is also known as a pre-foreclosure, is when a property sells for less than the balance owing on its mortgage. A short sale can take place when a mortgage lender/bank agrees that you can sell your home and pay off all (or a portion of) your mortgage debt.
A short sale is at times a long process. The process will depend on all involved cooperating and getting all documentation required by the lender in a timely manner, while the owner is also qualifying for the short sale.
1. When you are considering buying a short sale home, BE PATIENT
2. Know that the price listed, may not be the "APPROVED" PRICE of the mortgage lender
3. Short sales are "AS-IS" ... The seller will make NO improvement to the property.
The best advice is to work with an Alliance Associates Realtors Agent who has experience in short sales. Each bank is different but processes are similar, our desire is to help you expedite the transaction and to protect your interests. We do this by doing a market analysis of the area on recent home sales. This will give us a better idea of which properties are selling and our agents will work with you to establish an appropriate price that a bank would be most likely to approve.
If you place a bid on an "approved listed price," the bank most likely will not accept less than the listed amount.
Your loan process should start immediately at the beginning of your short sale contract. YOU DO NOT start the process after the bank "approves" the short sale, as the bank may only give you a short number of days to close the loan or deny the short sale. YOU MUST CLOSE ON TIME. Alliance Associates Realtors, treats a short sale as a regular sale, so that you will not miss your opportunity.
Contact an Alliance Associates Realtors Broker and let us help you explore all of your options. It is our job to ensure that you KNOW the market you are in and your best options. We will take the mystery out of your sale. Call us today!
By contacting an Alliance Associates Realtors Broker we will help ensure that nothing falls through the cracks through this short sale process.