Short Sale Tip # 4: Property Improvement & Repair Estimate Report When things go bad…they usually go real bad. If a homeowner has not paid his mortgage in many months, it is likely that the house has been neglected. If funds were not on hand to pay the mortgage, then it is probably safe to [...]
Short Sale Tip #13 : 5 Questions To Ask The Seller…Before Taking The Listing For a Property in Foreclosure In a down market, when the phone rings, agents and investors often can’t wait to get that next listing or contract. They rush out before really thinking about their plan of action and what makes the [...]
Short Sale Tip # 7: Confronting The 1099 Issue In Short Sales Can you imagine losing your home AND being hit with a huge IRS bill? Well if the short sale is not performed correctly and the short sale proposal request is not properly formatted, you may end up sticking the homeowner with a huge and [...]
Short Sale Tip #12 Overcoming Objections with the Homeowner Part 1 We are getting many questions from our attendees as to how to overcome objections with the homeowner, but we are surprisingly getting MORE questions as to how to overcome objections from the inexperienced or uneducated agent representing the homeowner…isn’t that a twist?
Short Sale Tip # 9: The Role Of Mold In Obtaining A Big Short Sale Discount Ever see a really good horror movie? Want to see one? Check out the bill or quote you will receive for black mold remediation.
Short Sale Tip # 8: The Role of Loss Severity In Short Sales Do you speak “banker-ese”? If not, you are leaving HUGE amounts of money on the closing table! When performing a short sale you have to be sure that you are negotiating from a position of strength. Do you know what Loss Severity [...]
Introducing the Short Sales By The Numbers Online Video Course. This video tutorial is a comprehensive, 25 video course that takes you step by step and shows you how to properly and successfully complete a short sale. Over 1,000 real estate agents and investors across the USA have found this to be one of the [...]
In a short sale, debt forgiveness by the bank may have tax consequences. Once a debt is totally or partially forgiven, the amount forgiven will considered as income by the IRS.Â
Short Sale Tip #2: The Letter of Authorization..commonly referred to as the LOA, Before you can even begin the short sale process, you will need to be given written authority to do so by the homeowner / borrower. Without having this document you can not even begin your short sale process. Simply put…no LOA..no short [...]
Although all lenders have varying requirements and may demand that a borrower submit a wide array of documentation, there are 10 Essential Elements of A Short Sale Package.
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