Short Sale literally translates to sell of a property for less than what it’s worth with due approval from the current loan company. The entailing questionnaire makes it easy to understand the entire short sales process.
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An inclusive Questionnaire to guide on Short Sales Process
Summary - Short Sale literally translates to sell of a property for less than what it’s worth with due
approval from the current loan company. The entailing questionnaire makes it easy to understand
the entire short sales process.
What is Short Sale?
In simpler terms, a short sale occurs when a person’s property is sold on lower amount than the
balance remaining on the owner’s mortgage. Also called as a pre-foreclosure sale, a short sale acts as
an substitute for the homeowners who cannot afford to pay the mortgage any longer and need to
move from the property in order to avoid a foreclosure. Most such homeowners who cannot afford
to pay their mortgage agree for a short sale as they believe that a short sale is more beneficial to
them than opting for a foreclosure process which often is a costly and drawn out process. For similar
reasons, the homeowners are willing to accept much lesser than the amount they owe to pay off the
Are Real Estate Agents reliable when it comes to handling Short Sale?
Only an experienced Real Estate agent and Short Sale expert can effectively handle Short Sale as it
one of the most complicated processes. As you wouldn’t want your dentist to perform a cardiac
surgery on you, similarly only a short sale specialist with significant experience should be hired to
negotiate the short sale deals for you. Jeff Kaller is one of the most acclaimed Short Sale experts who
can help you negotiate the Short Sale deal without charging a bomb. In addition, you can also look
forward to enjoy a wide range of pocket-friendly Short Sale deals by Jeff Kaller.
How to find profitable short sale deals?
It could be a daunting task to locate lucrative short sale deals if you are looking to buy short sale
properties. However, one sure-fire way to ensure that you are up-to-date with all the deals going on
in the Real Estate business is to find an experienced short sale specialist. You could find a list of such
short sale specialists by simply doing an online search. And when it comes to Short Sale specialists,
Jeff Kaller is perhaps the most trusted names. Attend meetings and seminars conducted by Jeff
Kaller and his team whenever you can to find a wide variety of Short Sale deals by Jeff Kaller. In the
meetings and seminars conducted by Jeff Kaller and team, you can voice out your requirements and
may get introduced to concerned investors and agents. With their help and networking capabilities,
you may even be able to get on to their buyers list.
What is the duration of a short Sale process?
It would be hard to estimate a correct time frame for a short sale process as a short sale process is
lengthy and complex. As lenders may have several layers of insurers, management and investors,
you may need to go through them before the process is approved. If you are the one who is
undergoing a short sale for his/her property, you need to be really patient during the whole process.
It is also advisable to work with a negotiator as they would be familiar with the proper requirements
of the lenders and ensure that the process moves smoothly and quickly.
Why do homeowners opt for short sale?
If an owner’s property is worth less than what’s owed, the property is considered to be
“underwater”. These “underwater” properties cannot be sold in the open market without paying the
difference in the amount owed. However, things can go complicated if the current purchase price of
the property is not equivalent to what’s owed by the homeowner and the homeowner is caught in a
shortfall of total amount. This is where Short Sale comes in handy for the homeowners. The process
of short Sales may rescue homeowners in such a situation.
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