By Chris B Johnson Realtor -Ventura County - Moorpark CA –
We often get asked if a short sale is even worth the effort. “Do I need to have my short sale “Approved” by my lender before I put my home on the market?”
One seller asked us. “When I called my lender they wouldn’t talk to me about my short sale. I am concerned that they might do that when I finally sell the property and I’ll never get the short sale approved.”
Click here to discover how other sellers successfully did a short sale and avoided foreclosure.
Here was our answer. Most lenders will not talk to you about a short sale until you have several things in place. They want a solid offer from a pre-qualified home buyer along with all the necessary financial documents.
Why do they do this? Because they only want to process short sales that will sell and close. Now, I think it’s an inefficent way to do things. Instead of refusing to negotiate short sales until there is an offer on the table, they should instead pre-approve short sales. It would make the process so much easier.
A home could be placed on the market at a set price. Buyers would be more interested in the property because they know they can get an answer in 2-3 days versus 2-3 months.
We have brought this up with Matt Vernon, the Vice President of Bank of America’s Short Sale Department. He knows there is stuff to improve. But, it’s hard to change the course of a huge company with so many different parties involved.
Despite all this, experienced short sale agents are getting short sales approved every day. The Short Sale Process is getting better and easier to navigate. More and more lenders are moving towards “Approved” Short Sales.
You just need to find a good short sale realtor that can navigate their way thru the crazy short sale process.
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 cjohnson@prucalhomes.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 805-208-0823.
Discover how other sellers successfully completed a short sale and request a free consultation by clicking here.
Thinking about a loan modification? Our Ventura County loan modification kit has the instructions you will need to get a loan modification approved with your bank. Click here to request a copy..
Thanks for reading this,
Chris B Johnson.
Chris B is a Real Estate Agent at Prudential California Realty, Berkshire Hathaway HomeServices .
Phone: 805-208-0823.
cjohnson@prucalhomes.com.
Certified HAFA Specialist, Certified Short Sale Specialist.
View My homes for sale at www.ChrisBJohnsonRealtor.com.
Chris B Johnson specializes in loan modification assistance and short sales in Ventura County California. Ventura County Loan Modification Help, Ventura County short sales. Ventura County Short Sale Realtor Moorpark CA Short Sales. Moorpark Realtor. Copyright 2012 SFI Marketing Institute, LLC. All Rights Reserved.
Important Notice Chris B Johnson, Prudential California Realty, Berkshire Hathaway HomeServices , and the Stop Foreclosure Institute are not affiliated in any way, shape, or form with the government. Our services have not been reviewed or endorse 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 Chris's personal views and do not reflect the views of Prudential California Realty, Berkshire Hathaway HomeServices . This information on Does My Moorpark Short Sale Have To Be Approved Before I Put It Up For Sale? is provided as a courtesy to our viewers to help them make informed decisions.
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