subject: How To Short Sale A Home [print this page] How To Short Sale A Home How To Short Sale A Home
How To Short Sale A Home-Short Sales Realtors-Luis Montejano & Stephen Munson Suggest that before you consider entertaining a short sale you must first Determine if you Qualify for A Short Sale by asking yourself Do I pass the Hard Ship Test?
Here are just a few examples of Hardship.
Loss of Job
Becoming disabled
Divorce
Death of a spouse
Click here to learn more about Hardship For Short sale
Next Steps...
If you believe you pass the Hardship Test, it is most likely time to contact a Short Sales Reator to begin the Listing Process. Your Short Sale Listing Agent will most likey follow these steps:
Help you Put your Hardship Letter together to present to your lender
Guide you through putting your "short sale package" together according to your banks stipulations.
Determine the market value of your proerty and setting the listing price
Once the short sale package is initiated and the prelimanary steps are in place, you Short Sale Listing Agent will then begin to market and sell your home, much like a traditional home sale.
Be sure to choose a Short Sale Realtor that will give your home the marketing attention it deserves. An agent may know how to short sale a home , but without excellent home marketing skills, their short sale skills may be useless.
When your home is skillfully marketed it will recieve an offer. Once it does:
Your Short Sale Listing Agent will negotiate with your lender for their approval of the Short Sale
Once Short Sale is approved by lender, escrow process begins
After all parties meet their obligations escrow is closed and short sale is successfully closed.
And now...
You may begin move on and start reestabishing your credit.
Now that you have a good idea of How to Short Sale a Home, here's what you can and should do now to make things easier for you and your new Short Sales Realtor:
Gather Financial Documentation including: Tax statements, paycheck stubs, medical bills, mortgage statements and anything you think you will need to support your Hardship case.
Contact Legal, Tax and Financial Professionals for their advise on how the short sale will affect you now and in the future.
What are your other Home foreclosure alternatives?
If you think or believe you qualify for a short sale and are ready to take the next step and contact a Los Angeles Short Sales Reatlor, please give us a call. There is no fee for a consultation.
