In this video, I go through what a short sale actually is. I realized I've never broken down what a short sale is, what the process looks like, or how it applies to your business as a realtor. ...more
FINALLY, THE SHORT SALE
RESOURCES YOU NEED.
Whether you’re a real estate agent representing a client during a short sale or referring them to us, we’ve got you covered. If referring, know that we as agents know how important it is to make sure clients are taken care of. We built our entire business on referrals, so we don’t take it lightly when you trust us with this process. You’ll receive weekly updates from our office and know what is going on with the transaction every step of the way.
How we can help get your client to closing
We’ll handle the entire process from start to finish.
Submit a lead.
Submit a lead by entering your client’s information as well as yours. Let your client know we will be contacting them, so we have a better chance of connecting with them as soon as possible.
Create a short sale package.
If we determine their property is eligible for a short sale, we’ll pull together the necessary documents to send to your client’s lender.
Negotiate and list the property.
After we negotiate and verify that the lender has everything they need, you can list their property at the approved price.
Review offers and submit.
The lender will approve or deny the offer submitted. If denied, we will find out why and either dispute the value or re-list the property to get a higher offer.
Get approval to close.
If approved, we’ll obtain written confirmation from the lender to close, as well as settlements on any additional liens or fees. We’ll check the final boxes and then send in the required documents to get paid.
Become a short sale expert yourself
Learn how to build your short sale business in your market from The Short Sale Queen.
Join Our Agent Facebook Community
We team up with motivated real estate agents across the country to be our boots on the ground when we have listings and referrals in their market. We are always looking for agents we can count on to help us get these deals to the closing table, so join us on Facebook if you think you’d be a good fit!
Frequently asked questions
We will make sure the lender puts in writing that the homeowner’s debt is settled after the short sale. This means the homeowner will have no further financial obligations to worry about once the home is sold.
Most homeowners qualify for relocation assistance from the bank. The amount we’re able to negotiate for ranges from $1,500 to $10,000.
It depends on many things, including late or missed payments. A short sale may appear on the homeowner’s credit report as “ settlement or pre-foreclosure redemption,” “paid in full for less than full balance” or other terms.*Missing mortgage payments will definitely affect the homeowner’s credit rating.
A short sale where the lender forgives (cancels) the debt is a relief of debt. The IRS may treat this as income for tax purposes. A limited exemption allows homeowners to pay no taxes on certain types of debt forgiveness especially if it's your primary residence. The government has been extending the Mortgage Forgiveness Debt Relief Act since 2007 and we do believe they will keep extending it or create a permanent law for it soon.
Every short sale is different, because every homeowner’s situation is different. Our average time frame is 3-4 months.
Take It From Our Past Clients
What our clients are saying…
“One of the best short sale experts and Realtors in DFW. A consummate professional!”
“Nicole and her team got a very difficult short sale closed for a referral client of mine. They know their stuff! Would highly recommend!”
Check out Our blog
and stay up to date with the latest tips for the ever-changing real estate market.
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