"Many agents mistakenly believe that all they need to be successful at short sales is to know how to sell houses. So they don't study BPOs, HUD-1s, HUD-1s, BPOs, or the short sale guidelines of the entity that owns or insures the loan. Nor do they understand why these things are crucial to success with short sales."Moorpark CA – Ventura County Short Sale Realtor recently received this question from Tamra. Here is Tamra's Question.
It always amazes me when I hear the stories of agents who talk about horrible short sales are. "Don't waste your time on a short sale", they tell homeowners. "They are a waste of time. The lenders won't approve them and the process is horrible. The last short sale I worked on took 9 months", they say.
Click here to discover how other sellers successfully did a short sale and avoided foreclosure.
This gives short sales a bad name. Homeowners mistakenly believe that a short sale is impossible.
I am here to tell you that is not true. Ventura County Short Sale Realtor has sold and closed many short sales. There are two keys to being successful.
First, you have to understand how the process works.
Second, you have to keep an eye on the transaction from start to finish.
Here is the closest comparison I can think of on why some agents hate short sales.
Let's say that you are a brand new driver. You hop into a car, accelerate to 70 miles per hours, turn on cruise control, and then start reading a book. Every 5 minutes or so you look up to check on what is going on with your car. You aren't successful at driving a car. Your friend is thinking about learning how to drive. "Don't even think about driving a car. Driving just doesn't work and it is impossible to get anywhere", you tell them.
Is what you just said correct? Is driving a car impossible? No, it's not! But, many agents make the same claim about short sales.
They have never studied and learned the process. They have never successfully sold a short sale. But, they are sure ready to tell you that it doesn't work.
Here is what they missed about short sales.
1. You need to be knowledgeable about the process. You need to have a solid understanding of HUD-1s, BPOs, and the short sale guidelines of the entity that owns or insures the loan.
2. You have to stick with the transaction. You need to follow up with the short sale lender regularly. You can't check in on the short sale every week or two. A lender will often ask for something and want it back within 24 hours. If they don't get what they need, then they will close the file.
If your agent isn't checking in regularly, then the short sale file could be closed without their knowledge. In addition, your agent needs to be able to make sure the HUD-1s and BPOs are accurate.
I will explain what those acronyms mean and why they are important in my next post. Ask the agent you are interviewing why they are important.
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 Moorpark 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 Realtor with Prudential California Realty, Berkshire Hathaway HomeServices.
Phone: 805-208-0823.
cjohnson@prucalhomes.com.
Certified HAFA Specialist, Certified Short Sale
View My homes for sale at www.ChrisBJohnsonRealtor.com.
Chris 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 B's personal views and do not reflect the views of Prudential California Realty, Berkshire Hathaway HomeServices. This information on Moorpark Short Sales: What can go bad on a short sale when you hire an agent that doesn't understand short sales is provided as a courtesy to our viewers to help them make informed decisions. Which way is the Real Estate Market Headed? Get a Market Snapshot of your neighborhood: MLS Market Snapshot. Has the Market Stabilized. http://ChrisBJohnson.housingtrendsenewsletter.com?Newsletter_ID=309.
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. Get your Free Report for All Your Options HERE: Certified Distressed Property Expert,
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. Chris B Johnson provides HAFA Loan Modification and short sales help, Short Sales in Moorpark, Short Sales in Thousand Oaks, Short Sales in Westlake Village, Short Sales in Newbury Park, Short Sales in Camarillo, Short Sales in Santa Rosa Valley, Short Sales in Somis, Short Sales in Lake Sherwood, and Short Sales in Simi Valley California. Moorpark Loan Modification Help, Thousand Oaks Loan Modification Help, Westlake Village Loan Modification Help , Newbury Park Loan Modification Help, Camarillo Loan Modification Help, Santa Rosa Valley Loan Modification Help, Somis Loan Modification Help, Lake Sherwood Loan Modification Help, and Simi Valley Loan Modification Help, Moorpark short sales , Thousand Oaks short sales, Westlake Village short sales, Newbury Park short sales , Camarillo short sales, Santa Rosa Valley short sales, Somis short sales, Lake Sherwood short sales, and Simi Valley short sales. Moorpark Short Sale Specialist , Realtor, Moorpark Short Sale Specialist , Realtor, Short Sale Specialist , Realtor, Ventura County CA Short Sales. Stop Foreclosure in Ventura County, Certified HAFA Specialist, Moorpark Short Sale Specialist, Thousand Oaks Short Sale Specialist, Westlake Village Short Sale Specialist , Newbury Park Short Sale Specialist, Camarillo Short Sale Specialist , Simi Valley Short Sale Specialist, Moorpark CA Short Sales, Thousand Oaks CA Short Sales, Westlake Village CA Short Sales, Newbury Park CA Short Sales, Camarillo CA Short Sales, Simi Valley CA Short Sales, Ventura County Foreclosure Help, Moorpark Foreclosure Help, Certified Home Affordable Foreclosure Alternative Specialist, HAFA, HAMP. CA. DRE 10501699.You can find Ventura County Short Sale Specialist, Realtor, at 587 W. Los Angeles Avenue, Moorpark, CA. 93021Chris also 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 Specialist, Realtor, Short Sale Specialist, Realtor, Ventura County CA Short Sales. Ventura County Specialist, Realtor, www.theshortsaleguide.com , Certified Home Affordable Foreclosure Alternative Specialist . Always check with a good real estate attorney to find out the laws in your state. There are also legal aid non profits that can give you advice on what to do to stop a garnishment or bank account seizure. You should also look at California SB458. With the passage of SB458, the Expanded Anti-Deficiency Law May Have Unintended Consequences on Ventura County Short Sales. For Disclosure, and more information on Mortgage Assistance Relief Services, please see Code 16 of Federal Regulations (FTC), Part 322, or , http://www.ftc.gov/opa/2010/11/mars.shtm and always consult your CPA, Accountant, Financial Advisor and Attorney before you any financial or legal decisions. Certified Distressed Property Expert. http://posting.ventura.backpage.com/online/classifieds/ViewAd?oid=38684265&uid=2db05ae7ca5059066f2097019fa1db5e To Read More About The Potential Tax Consequences of a Short Sale: Click here. Loan Mod vs Short Sale Click here..
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