Short & Foreclosure Realtor®

Shortly after completing my initial real estate certification, I attended a Short Sale and Foreclosure Specialist certification class. I knew that this would be a valuable skill to have under my belt. I have recently closed deals with ORNL, PNC Mortgage, Chase Bank, etc. Having the necessary skills, forms, and understand of the short sale process is invaluable to a bringing a deal to close.

Many people ask me, "what is a short sale"? My simple answer is that it is when your lender(s) accept a payoff for your loan that is less than what is actually owed. The bank will only do this under certain situations and when your home is no longer worth what you owe of the home. If you lose your job and are unable to afford your mortgage payment and your home is valued for less than what is owed, then you might qualify for a Short Sale.

The process is not a short one, despite the name. According to the latest data, the average short sale takes 6 months to complete. Many banks are putting time limits in place, which is a great thing. I am currently working with Chase Bank and they will return with an answer to offers within 10 days.

Choosing a qualified Realtor® to guide you through the short sale process is very important to a successful closing. Attention to detail, organization, and the ability to be patient and follow instructions is key to a successful transaction. If you are considering selling your home under these conditions, please give me a call or email to set up a time for us to meet and discuss your situation. Being well informed is the most important step to take.

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Short Sale Property Slideshow