Buyers
Finance Your Home
- Specialty Mortgages: Risks and Rewards
- Loan Types to Consider
- 6 Creative Ways to Afford a Home
- Lender Checklist: What You Need for a Mortgage
- Get Your Finances in Order: To-Do List
- Budget Basics Worksheet
- What You Can Do to Improve Your Credit
- 5 Factors That Decide Your Credit Score
- How Big of a Mortgage Can I Afford?
Find the Right Property
- How High Tech is Your Home?
- 5 Property Tax Questions You Need to Ask
- 10 Questions to Ask the Condo Board
- Your Property Wish List
- Tips for Finding the Perfect Neighborhood
- Tips for Buying in a Tight Market
- Pros and Cons of Going Condo
- 10 Questions to Ask Home Inspectors
- What a Home Inspection Should Cover
- Making an Offer on a Short Sale? What You Need to Know
- 8 Tips to Guide Your Home Search
Prepare for Closing and Beyond
- 5 Things to Know About Homeowner’s Insurance
- Tips for Lowering Homeowner’s Insurance Costs
- What’s a Home Warranty?
- What Not to Overlook on a Final Walk-through
- Common Closing Costs for Buyers
- Moving With Pets
- Closing Documents You Should Keep
- 17 Tips for Packing Like a Pro
- Things You Might Not Know About Title Insurance
Sellers
Before You Sell
- Does Moving Up Make Sense?
- 8 Reasons Why You Should Work With a REALTOR®
- 12 Questions to Ask When Choosing Your REALTOR®
- 5 Things to do Before Putting Your Home on the Market
- Understand Agency Relationships
- What is Appraised Value?
- Navigating Short Sales: What to Do When the Sale Price Leaves You Short
Prepare for Closing and Beyond
Buyer Calculators
Mortgage Calculator
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Affordability Calculator
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Closing Cost Estimator
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Seller Resources
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What is a short sale?
In simple terms, a short sale is a special transaction where a lender agrees to accept less for a property than is actually owed on it.
Do I have to be approved by the lender before putting the property on the market as a short sale?
No. Technically speaking there is no such thing as being “Short Sale Approved”. The bank does not approve the short sale until you have an accepted written offer. A Certified Short Sale Specialist can help you navigate the complex process of complying with the lender’s requirements.
Why do I need a Short Sale Specialist?
Every lender is different. Some are very open to helping you with a short sale and others won’t even talk to you. Negotiating a short sale with a lender can be a complex process. Having an experienced Short Sale Specialist can make all the difference between having your deal rejected or approved. They truly provide a very valuable service.
Is there a lot of paperwork or “red tape”?
Yes, there could be. If a Short Sale Packet is not complete when it is submitted to the lender, the lender very likely will not approve your buyer’s offer. A Short Sale Specialist is trained to guide you through the process and make sure all required forms and documents to be submitted are complete.
I have a friend who is a real estate agent? Can I use him/her?
This is a very specialized field. Very few agents have the expertise to handle this specialized type of transaction.
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