Short Sales – Selling Your Home When You Owe More Than It's Worth

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As a Realtor in Warner Robins GA it is not uncommon to go on a listing appointment and meet with a seller who wishes to sell their home, but they owe too much on the home including 2nd mortgages, leans, or lines of credit, haven ' t lived in the home very long, and the current market value is less than their payoff. A good option for homeowners in this situation to consider is a Short Sale. Here is the basic process of how it would work: A Realtor gives a homeowner a free market analysis, determine if the home is a good prospect for a Short Sale, Realtor provides Foundation Realty Solutions with the completed Short Sale Prospect Information Sheet, Foundation Realty Solutions determines if they will accept the home as a short sale prospect, Realtor lists the home for fair market value, Foundation Realty Solutions acquires the property from the sellers lender within a couple months, at that time Foundation Realty Solutions will work with the Realtor at setting a new price to market the home in order for the homeowner to sell at their payoff, including contracts and closing costs. A commission is paid to the Realtor one time at the completion of the sale. The homeowner will not make any profit on the sale, but it will allow them to get out from under the house at a price they would not have otherwise been able to obtain.

If you answer yes to any of these questions than it may not be a good Short Sale Prospect

1. Can the house be sold for enough to pay off what the seller owes on it?
2. Does the Seller have the means to resolve their situation on their own? Do they have money sitting in a bank account or equity in another property that they can use to catch up or pay off their mortgage (s)?
3. Does the Seller insist on staying in the house (even when it's pointed out they'll have to move if the house forecloses)?

If you answer yes to any of these questions, this may be a good Short Sale Prospect

1. Is the Seller willing to move and walk away from the house?
2. Is any foreclosure sale more than 10 days away?
3. Is the house over-leveraged?
4. Does the house have more than one mortgage on it?
5. Is the house really ugly?
6. Is the house unconventional / obsolete?
7. Is the house a victim of its surroundings (ie, located on a busy highway, next door to a cemetery, crime scene, etc.)?
8. If the house is "pretty", do you think it would sell in 30 days or less if you dropped the listing price by 20%?

Benefits

1. There are no fees or costs of any kind to the Agent or Seller
2. Agent receives full listing commission
3. Houses sell quickly – you have a very competitive price
4. Realty Solutions Solutions handles the Short Sale – saving Realtor many hours of time while increasing the success rate
5. Agent retains the listing and the client
6. No more long phone calls and frustration dealing with loss mitigation
7. The process is quick and easy

Here is a link to Foundation Realty Solutions along with FAQ's
http://www.foundationrealtysolutions.com

For assistance with a Short Sale or buying a home in Houston County or Peach County in Georgia please call (478) 396-2440 or visit my website.

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Source by John Cobb