Buyer & Seller Resources
Finance Your Home
Find the Right Property
Prepare for Closing and Beyond
Before You Sell
|Monthly Gross Income||$|
|Monthly Debt Expenses [?]
Monthly Debt and Obligations Should Include:
|View/Edit Closing Cost Details|
|Traditional Closing Expenses|
|Lender Processing Fees||$|
|Wire and Courier Fees||$|
|Title Closing Fee||$|
|Title Document Prep Fee||$|
[gravityform id=2 title=false description=false]
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.
Eldorrado Chicago Real Estate manages townhomes, condominiums, individual homes, and residential apartment buildings for clients…
3 Bedroom Ranch Style with Sunroom. Nice Spacious Rooms…
This meticulous, newly renovated two bed, two bath condominium hits the mark for contemporary Lincoln Park living…