How To Find An Investor To Complete Your Short Sale
How To Find An Investor To Complete Your Short Sale
Get An Immediate Offer
If you decide to try a short sale, you should take steps to close the transaction as fast as possible. This will help to limit the damage to your credit. Each month that the bills aren't paid is another negative mark on your credit. In some cases, the months of missed payment cause more credit damage than the actual short sale.
Each month the mortgage isn't paid increases the balance of the loan. Unlike a typical sale of real estate, a short sale is more about the speed of the transaction then receiving the absolute highest price for the property.
After all, if you're doing a short sale you can't receive any funds from the sale. It's important to keep that in mind. The lender will have a loss and they will not allow any compensation to the homeowner. Therefore, the ultimate goal with the short sale is to eliminate the mortgage, reduce credit damage, and get into a better housing situation. Often the best way to achieve this is to work with a committed buyer who can make an immediate offer on your property.
Benefits Of Working With A Real Estate Investor
There are many benefits to working with a real estate investor who can make an immediate cash offer on your upside down property.
An immediate offer will speed up the process and save valuable time. Since a legitimate offer must be received before the lender will consider a short sale, working with an investor can increase the likelihood of success and help to limit the damage to your credit.
An additional benefit of working with a real estate investor is having a committed buyer involved. A knowledgeable investor understands the short sale process and expects the inevitable delays. In some cases it may take 3+ months to receive lender approval on a short sale. These delays can lead to problems for the distressed homeowner.
One of the key factors with the low closing rate of short sales is buyers often back out of the transaction. Buyers back out for a number of reasons but often it comes from frustration with lender delays.
Another issue that comes up with a typical homebuyer is they make several offers on many short sales and bank owned property. However, most homebuyers can only close on one property. Once they close on one, they back out of the others and this leads the seller in a bad position. When working with a real estate investor this is not an issue.
With short sales in 2010, losing buyers is a widespread problem for agents and sellers. Working with a committed real estate investor completely eliminates this major issue for a seller. This could be the difference between a foreclosure & a successful short sale.
Some of the key benefits of working withan investoron your short sale include:
Immediate cash offer saves valuable time for you.
You do not have to spend any time showing your house and hunting for a buyer.
We are committed to closing the transaction and will not back out because of lender delays.
Quicker finish to a stressful situation
In summary, a short sale is a very complicated and time consuming process. There are many more benefits of working with us on your short sale. In order to improve your chances of success you should consider working closely with a cash investor who will remain committed to completing the transaction.
To find short sale investors in your area just jump on the Google and search for them. For example in New Jersey you can search "New Jersey Short Sale" for a short sale investor such as USshortsalebuyers.net, or Florida Short Sale for investor like StopForeclosureFastFL.com. In Oregon try "Portland Short Sale" and you'lll find an investor such as StopForeclosurePortlandVancouver.com who can put an immediate offer on the table with the lender.
Investors like these are out there in every market. If you need an immedaite offer to send your lender be proactive and find them.
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