Columbus OH – The Stop Foreclosure Institute recently received a question from another agent. Here was her question.
"I
have a short sale listed. At what time in the short sale
process do you stop accepting additional offers for submittal to the
lender? If you accept another offer after you've already
submitted one to the lender, does it reset your timeline to the
beginning?
Do you just put them in backup position? What about
the poor buyer whose offer was submitted and has already been waiting
for weeks for lender approval?
Do you allow them to match the higher offer? You guys have so much experience, how do you handle this? Thanks! Diane."
Click here to discover how other sellers successfully did a short sale and avoided foreclosure. http://columbusohshortsaleadvisors.com/
Here
was our answer. It all
depends. We like to stay with the original offer if possible. But, we
don't always do that. It all depends on what the seller wants to do.
If
the bank is asking for a deficiency or promissory note, then the seller
may want to submit the higher backup offers. We run this for the
sellers and not the buyers benefit. We feel that it is our job to
represent the seller.
If the short sale lender does not like the
first offer, then we will submit the next offer. But, if they accept the
first offer, then we recommend that the seller go with that one to
honor the first buyer.
That buyer has waited the longest and deserves to be rewarded for their patience. 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, Robin Lemmons.
Rick & Robin Lemmons 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 atwww.rickandrobin.com.
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.
Copyright 2012 SFI Marketing Institute, LLC. All Rights Reserved.
Important Notice
Rick & 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 Robin's personal views and do not reflect the views of Coldwell Banker King Thompson.
This
information on Columbus Short Sales: How Do You Handle Multiple Offers?
is provided as a courtesy to our viewers to help them make informed
decisions.
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