how do I draw up a contract or proposal

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Obtain An Experienced Short Sale Specialist

My First Short Sale

Hello and welcome to our blog. We are Kevin Kauffman and Fred Weaver, Arizona’s leading short sale specialists. Thank you for taking time out of your day to check out our blog. We would just like to let you know that we have successfully completed hundreds of short sale transactions at a 90% achievement rate over the last few years. However, this website is not about us. It is about you, the property owner.

It is exceedingly important that you have an specialist on your side that is dealing with your bank who doesn’t just agree with the lender and everything they say. The short sale can be a little bit traumatic to you as a home owner, so we want to provide you some perspective as to why you want a good short sale specialist on your side.

Here is a simple illustration. We have a short sale that has an offer for $50,500 and the lender has a value on the property of $49,500. Observe that the value of the home is in fact less than the offer. So, this transaction should very easily be accepted. The value of the residence comes from a BPO, a brokers price opinion. When you work a short sale, the lender hires an private business to acquire a value for the residence. The lender uses this value to decide whether or not they should employ the short sale or foreclose on the property.

In this specific instance, the bank declined the proposal because the offer was not sufficient. Basically, the bank worker making this choice does not understand the idea of loss mitigation.

Unless you have a real estate specialist on your side that is willing to aggressively pursue the agreement, you may have trouble closing a short sale. In the end, if we did not keep fighting, this residence would have gone to foreclosure.

In general, 20-40% of short sales close successfully. With a 90% achievement rate, we feel like we can be your greatest friend in this situation. We obtain better results than the majority.

We encourage you to come back to the website and contact us. We look forward to dealing with you soon.

Short sale FAQs and more.

Get more information on selling your home from Kevin and Fred at My First Short Sale by the Short Sale Specialists of Arizona

Looking Out For The Residence Owner

Short Sale Power Hour

The whole group is available today. With F’ed up Friday on the schedule, Kevin, Fred, and Coach Collard would like to inform you about some other practices that are a little bit underhanded. So, today’s class can be valuable for the brokers that are doing stuff that could be considered shady and also for the professional that is attempting to do everything right, but might run into an broker that is not working with the best practices.

A member of Group 4610 was writing a fully executed proposal. The addendum allowed the other broker to accept multiple offers (while Group 4610 does not work that way, they sometimes run across other brokers that do) Still, there had been a earlier contract on this house that had been cancelled. So, it just needed to be reapproved.

One day after the contract was signed an addendum was sent over that states the the initial buyer wanted $3000 from the second buyer because the initial buyer withdrew from the deal. Because the second buyer has a fully executed contract stating that the initial buyer previously withdrew, the primary buyer is not owed any cash.

There are several parties working in their own best interest here. Real estate specialists, investors, and others caught up in this transaction are all attempting to capitalize on the cash to be made. While that is certainly tolerable, it does appear that the money is largely overriding the more essential slice of this deal, specifically, the house owners. From the outside looking in, there appears to be nobody looking out for the house owners greatest interest.

As real estate agents, we need to keep an eye on these stuff. At the end of the day, you aren’t really assisting the house owner because profitability should come after the home owner.

Short sale FAQs and more.

Get powered up by Kevin and Fred at Short Sale Power Hour by the Short Sale Specialists of Arizona

Mandatory home inspections? Is it a structurally sound idea or a proposal lacking a foundation?: An article from: Mortgage Banking

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