Short Sale Info

VA Tax Credit Info

Guest Post by: James Kelley blogs on veteran’s issues, real estate and finance across American markets at VA Benefit Blog .He also works with VA Mortgage Center, proudly serving American military families as a leading national VA lender. Due to new, stringent practices many lenders have implemented since the credit crisis of 2008, many veterans [...]

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The Short Sale and The Buyer

A short sale on the buyer’s end should be thought of as a traditional sale, you have a buyer that is wanting to purchase a home, a seller wanting to sell a home. The only difference at this stage is that the seller can not sell the home at the sales price without the bank’s approval.

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How Are Short Sales Priced?

One of the most confusing things to a buyer on a short sale is the price. A property will be put on the MLS with a great price, the buyer will write an offer and the process begins. The offer is first submitted to the Seller, once the seller and buyer come to an agreed to transaction the offer is submitted to the bank. The bank has the opportunity to accept, reject or sometimes suggest a different price.

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Do I Qualify For A Short Sale?

Just because you feel you are upside down in your home does not qualify you for a short sale. I do not know how many times I have been told by a seller their home is not worth what they owe so they are going to walk away or quit making payments, then try and sell (short sale) or let the bank take the house. The sooner you talk with an agent the quicker your stress will go down. Many agents do not let these people know that there are specific guidelines to a smooth and successful short sale.

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Can’t Sell For What You Owe? Short Sale or Foreclosure?

Now that we have all been and seen this market for a little while (ok it feels like forever for some) the questions are coming from buyers and sellers alike about short sales and foreclosures.  There have been guidelines written, changed and re-written, we have seen modification promises and a confusing statements that make us [...]

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