EXCEL REALTY is there for sellers needing to execute a short sale Pleasanton, CA

What is a short sale?

A short sale occurs when the amount of the outstanding loans are greater than the value of the home. This situation is typically caused by home values in an area rapidly deflating along with a homeowner experiencing a sudden and drastic financial hardship.

 

The Short Sale Process...

Once the property is listed for sale and the seller accepts an offer, the seller along with their agent prepare a financial package to submit to the existing bank. Each bank has its own guidelines but the basic procedure is similar from bank to bank. In addition to the buyers offer, the seller's short sale package will most likely consist of:

Letter of authorization, which lets your agent speak to the bank.
HUD-1 or preliminary net sheet

Completed financial statement
Seller's hardship letter
2 years of tax returns
2 years of W-2s
Recent payroll stubs
Last 2 months of bank statements
Comparative market analysis or list of recent comparable sales

After the bank acknowledges receipt of the package, a case will be opened in the bank's loss mitigation department.  Then a broker price opinion or BPO is performed to help the bank get an objective 3rd party's opinion of value.  The bank then approves the sale or counters the buyers offer and eventually if all of the investors that actually lent the money agree, the bank then issues a discounted payoff demand known as short sale approval.

 

Free Expert Short Sale Advice...

1. Hire a REALTOR®!
Not all real estate agents are REALTORS®. REALTORS® are members of the NATIONAL ASSOCIATION OF REALTORS® and voluntarily pledge to abide by the strict code of professional ethics.

2.Take a Proactive Approach
The short sale process can take a lot of time and effort on your part, so taking a proactive approach to your short sale may help you complete the transaction as quickly and painlessly as you can.

3. Knowledge is Your Friend
The short sale process may be new to many sellers and is much different than a normal transaction. It is important to know what you are getting yourself into.

4. Do Your Homework
As early as you possible, determine your lender's short sale requirements and whether you satisfy those requirements.

5. Get a Good Price For Your Home
Getting a good sales price not only improves your chances of getting your short sale approved, but may also have other advantages.

6. Submit a Complete Short Sale Package
Provide your lender with a complete short sale package containing all the required information and documentation in an organized manner.

7. Be Patient But Persistent

8. Avoid Scam Artists
Be wary of scams. Your REALTOR® will help you avoid getting duped.

 

A Better Way To Short Sale With Cash Incentives!

HAFA (The Home Affordable Foreclosure Alternatives) is a government driven program designed to incent homeowners in distress and to simplify the process.  Many lenders are now copying the HAFA procedure to help expedite the short sale of your home.  They are offering cash incentives up to $3000 to help people in their time of need.

Learn about the governments The Making Home Affordable © (MHA) Program

 

To proceed with a short sale or simply get some beneficial and free information, call Robert's Short Sale Hotline & get more information. Secure, private and confidential.

Call Now For Free Advice!

510-894-4905



For a personal one on one free consultation to obtain free EXPERT analysis regarding your particular situation, please call Robert Miller now!  He will advise you on exactly what to do given your situation.

Robert Millers is a Certified HAFA Short Sale Specialist and has been negotiating with loss mitigation departments on behalf of sellers in distress since 2005.  He has the connections, knowledge and experience to best represent sellers successfully through the short sale process.