Short Sales - 3 Important Things You MUST KNOW

By
Real Estate Agent with 240.706.7653

By now, many people are aware that short sales at least exist. Many homeowners are still not exactly sure of all By now, many people are aware that short sales at least exist. Many homeowners are still not exactly sure of all the details of doing a short sale, but they know it may be an option for them to explore. 

It is critically important that homeowners understand the following key things when doing a short sale. Although there are many other important details to consider, I figured we'd just chat about a few for now.

KNOW the difference between the servicer and the investor.

It is critical to understand this fact because it impacts everything about your short sale process.

Who your servicer is helps to shape the answers to these questions: 

  • Should I have an offer before or after you start the short sale?
  • Will I be required to miss a payment before they will consider you for a short sale? 
  • What is the typical timeline for this type of short sale?

Short Sale properties still need to be prepared to get the best offers possible.

Buyers want to purchase a home that other people like as well. So it is critical to make sure that the
home shows well, smells great, and screams "You would be crazy to not buy me."  
 

Short Sales require sellers AND buyers to agree to timely responses to the banks.

Some banks may take a long time to get responses back, review documents, and provide updates....BUT they still run the show. Therefore, when a bank requests documents, it is important for all parties involved to do what is necessary to get the requested documents to the bank. We all need to do ourselves a favor...and not take it personally...it's business. The goal is to get to the finish line!!! 

Working with an experienced and knowledgeable licensed Short Sale specialist helps to make your process much smoother. Please be certain to do your due diligence in obtaining short sale services. It is important to have a team that is prepared and equipped to get your short sale completed as quickly as possible and with as few glitches as possible. 

If you have any questions or concerns about your short sale, please feel free to contact us for a free consultation. 
We'll be happy to assist so you can make the best decisions for your specific situation.

Thanks & God Bless,

Tyra

Give your burdens to the LORD, and he will take care of you. He will not permit the godly to slip and fall. Psalm 55:22 

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Tyra General & Associates specialize in helping Maryland Homeowners short sale their homes and stay on the path to financial freedom!

Call us directly at 240-706-SOLD (7653). Or if you prefer, you can email me at tgeneral@athomewithtyra.com

When we chat, we'll answer any short sale questions you may have.

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Important Notice

Tyra General & Associates are not affiliated in any way, shape, or form with the government. Our services have not been reviewed or endorsed by the government or your lender. We do not recommend that you stop paying your mortgage, because this will cause damage to your credit and could cause you to lose your home. Because we know avoiding foreclosure is so important to any homeowner, we recommend that you speak with the appropriate legal or tax advisor before making any decision. Although we have an attorney on our team, this content is not intended as legal, technical, or tax advice. Please speak with a licensed professional before making any decision. Information is deemed reliable but not guaranteed as of the date of writing. This information is provided as a courtesy to our viewers to help them make informed decisions.   

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