RealTown's BlogTalk

Hi Every one,

this is all new to me, but I had taken 2 listings that I think may be a short sale. The 1st one the payments are still current but when he bought the home, the market was high, he is now loosing his job and is force to sell. The home is now worth 30K less than when he first bought it. He does have a first and 2nd, I have it listed for him to brake even with the bank but still to high for the area/market. How does this work? I think he still has to come up with the difference, right?

With everything I learned thus far in Short Sales, it is very important to have a good real estate attorney on your side. They will take care of speaking with the bank, handle the transaction and negotiations. An attorney will protect you from saying something that might not be correct. In Virginia, the fee to hire an attorney is $500.00.

Iris Finn, Realtor

EXIT REALTY PROFESSIONALS

Virginia Beach, Virginia

Greetings ePROs:

Mary Rose wrote: "…How does this short sale work?"

Mary:

The short sale process is long, slippery, and requires a lot of short sale knowledge and patience.

If you do not have short sale experience, I recommend you work with another experienced agent in your office

or hire a third party negotiating company if they are legal in your state.

We have a fiduciary responsibility to our clients and must work with their best interest in mind. You are welcome to contact me to discuss details of a short sale as they work in California. I was first licensed in 1987 and currently a licensed broker, but I have been to several seminars to brush up on my knowledge and skills of short sales.

The mortgage banking industry is changing daily. Make sure you take time to know what is happening daily.

Good luck!

Love & Peace,
Jeero Habeshian, Broker Associate, ePRO
Glencrest Team - Keller Williams Realty
818.523.9995
Jeero@GlencrestTeam.Com
GlencrestTeam.Com

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