What is the trick to selling your Seattle area home in 7 days or less? No trick! It is all about the price you are willing to accept and who your buyers are! You can sell your home in 7 days, but the real question that you should be asking yourself is if you need or want to. Before you call that number on the bandit sign, read this!
Are you thinking to yourself “Can I buy a home after my foreclosure?” It is not impossible to buy a home after a devastating financial event. In fact, people who have cleaned up their credit and are financially sound and qualified to get a mortgage can buy a home as soon as they have surpassed a prescribed waiting period after the bankruptcy, foreclosure or short sale
After playing in the world of short sales, bankruptcy challenges, loan modifications and helping people with their credit, I have started to notice some interesting details regarding the Washington state statute of limitations. Most often this comes up when talking about real estate short sale deficiencies and how long the bank can wait to come back on home owners for the deficient amount.
Short sale approval takes teamwork. A fellow broker recently brought me in as a negotiator for a short sale client of theirs and I have been experiencing a lot of “pain in the ass” events as a result. The main reason for this is the seller’s need to try and control the situation and lack of cooperation in getting things done. Consequently, I am writing this as a guide to sellers what they can do to help their negotiator achieve short sale approval.
For sellers, a real estate short sale is much preferable to a foreclosure in the area of credit impact especially if you are planning on buying a home again in the future. Other situations may warrant simply doing a ‘Deed in Lieu’ where homeowners hand the keys back to the bank or even allow the property to go into foreclosure. Of course you should always consult with your tax person or other financial advisers before deciding what to do.
With three weeks before her auction date, we quickly got the home on the market and started looking for a buyer. Then I called the bank and found out the bad news. Her bank would not look at any offers or postpone the auction with less than 15 days on the clock. If she had called me sooner we could have prevented the foreclosure and kept that off her credit record, which will make buying a home in the future much easier!
Ask any real estate agent and they will tell you that many short sales never close. For one reason or another even after a buyer is found and the bank has agreed to a sales price the sale will not go through. This sometimes happens when buyers get tired of waiting for the bank and [...]
The big question is ‘where do I start?’ when it comes to finding a deal on a short sale home. I will skip over the steps of determining where you want to live, how much you can afford or finance, and what type or size of a home you want. Those are subjects in and [...]
Find out if you are eligible for a home loan modification or refiance by vistiting the Home Affordable Refinance Program website.
I want to shout that to everyone across country! A recent study has shown that a stunning 70% of homeowners that are behind on their mortgage never seek any outside help in dealing with the problem. Homeowners need to realize that the banks don’t want to foreclose on their homes and are generally willing to [...]
© Jacquie Cliff – Professional Seattle Area Real Estate Broker with Champions Real Estate Services
