Click here to discover how other sellers successfully did a short sale and avoided foreclosure. http://columbusohshortsaleadvisors.com/
Then, that person orders an appraisal on the property. After that appraisal comes back, the bank employee reviews the property value and the home seller's personal financial situation.
Based on that, they approve or deny the short sale offer. They do this to avoid approving short sales when either a homeowner can still afford the house or the house is selling for under the appraised value.
What do they do if the short sale offer is rejected? Well, they tell the buyer to hit the road and close the file. Everything gets thrown out. The appraisal is thrown out. And all the time that employee spent looking at the seller's finances is thrown out.
So, each buyer has to wait 60-90 days for an answer on their short sale. If that buyer's offer doesn't work, then all that paperwork is thrown out and the property is put back on the market.
(Yes, some banks are pre-approving short sales before they come on the market. But, that is the exception, not the rule. Most banks are not pre-approving short sales.)
The home is marketed and then the next buyer has to go thru the process all over again. So, why does this matter to you?
A short sale helps you avoid the bad mark a foreclosure puts on your credit for the rest of your life. On any future loan application you will have to put "yes" next to the question "Have you ever lost a home to foreclosure?"
So even though the foreclosure goes off your credit in 7 years that question stays with you for the rest of your life. That is why most people prefer a short sale.
Your agent is going to have to be persistent in order to give you a better chance at a successful short sale. A competent, experienced short sale realtor that can successfully navigate the system.
They can convince your lender that it is in their best interest to accept the short sale offer. They can also convince them to pre-approve the short sale at a set price.
This gives you a better chance at avoiding foreclosure. Thinking about a short sale?
I can help you short sale your property and get back on your feet. Send me an e-mail at robin.lemmons@kingthompson.com. I will contact you for a free consultation.
When we talk, I will explain how the process works in detail and answer any questions you may have. Or, if you prefer, you can call me at 614-741-2495.
Discover how other sellers successfully completed a short sale and request a free consultation by clicking here. http://columbusohshortsaleadvisors.com/
Thinking about a loan modification? Our Columbus loan modification kit has the instructions you will need to get a loan modification approved with your bank. Click here to request a copy. http://columbusohshortsaleadvisors.com/
Thanks for reading this, Rick and Robin Lemmons.
Rick and Robin is a Real Estate Team at Coldwell Banker King Thompson.
Phone: 614-741-2495.
Email: robin.lemmons@kingthompson.com
A Zest For The Best
View My homes for sale at www.rickandrobin.com.
Rick & Robin Lemmons specialize in helping Columbus Homeowners short sale and never pay the bank another penny. Columbus Loan Modification Help, Columbus Short Sales, Columbus Short Sale Realtor. Columbus Short Sale Realtor. Columbus OH Short Sales. Columbus Realtor. Columbus OH Short Sales. Columbus Realtor.
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Important Notice
Rick and Robin Lemmons, Coldwell Banker King Thompson, and the Stop Foreclosure Institute are not affiliated in any way, shape, or form with the government. Our services have not been reviewed or endorsed by the government or your lender. Most lenders willingly work with agents on short sales. Why?
Because most short sales are beneficial to a lender. If you accept our offer to help you on a short sale, your lender may not agree to a short sale or to modify your loan. We do offer a loan modification kit.
However, the likelihood of negotiating a modification is like everything else in life. It takes work and persistence to convince your lender to modify your loan. No matter what you or we do, your lender may not approve a loan modification.
We do not recommend that you stop paying your mortgage, because this will cause damage to your credit and could cause you to lose your home. Because we know avoiding foreclosure is so important to any homeowner, we recommend that you speak with the appropriate legal or tax advisor before making any decision.
This is not intended as legal, technical, or tax advice. Please speak with a licensed professional before making any decision. Information is deemed reliable but not guaranteed as of the date of writing.
You have the option to reject a short sale or loan modification from your lender if it does not meet your approval. If you decide not to go thru with the short sale, then you do not have to pay us our fee. We normally make a real estate sales commission for helping you on a short sale.
The views expressed here are Rick and Robin's personal views and do not reflect the views of Coldwell Banker King Thompson.
This information on Columbus Short Sales: Why Persistence Is So Important In Success At Short Sales is provided as a courtesy to our viewers to help them make informed decisions.
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