How do I Qualify for a Gainesville Short Sale?

Do I qualify for a Gainesville short sale? This is a common question among Gainesville homeowners that are facing very difficult decisions in their lives.  If you are a homeowner that is facing a foreclosure, it is important to know that you are not alone.

There are many other homeowners out there who are going through this process.  It is also important to know that there are people out there who have the answers.  Our agents are dedicated with helping homeowners like you, by providing you with the most updated and current information possible.

Do I qualify for a Gainesville short sale? Whenever a homeowner calls our office to ask us for information on qualifying for a short sale on their home we make sure that we provide them with the most updated information out there, since short sale information is always changing.

We hope that you understand that there are never any guarantees that a lender will approve a short sale.  The first step in determining whether or not you are eligible for a Gainesville short sale, and what your chances are, is to complete an intake interview with one of our agents.

The best way to describe what an intake interview is to explain that it is the opposite of a mortgage loan application. When a buyer is trying to qualify for a loan to purchase a home, it is important to prove to the lender that they are in a sound financial position, with good credit, and have money to put down on their home. When you are completing an intake interview, the homeowner will need to show the lender the opposite.

We will want to show financial hardships and that there is no longer a sound financial position in the picture, It is important to show that there you are  no longer able to afford your home.  Upon proving these key things you will have the best chance to qualify for a Gainesville short sale.

When you call to ask “Do I qualify for a Gainesville short sale?” our agents will do a qualification interview over the phone.  This will be done before a CMA is completed. This evaluation will give everyone a better idea of what the chances are for your short sale to go through.  Not all short sale circumstances are the same. The outcome of a homeowner qualifying for a short sale will better be determined after an agent reviews all of the details.

During the qualification interview one of our agents will disclose to the homeowner all of the possible outcomes of the short sale.  The process will include a list of financial questions that will be asked

Below are a few:

 

  • How much money is the homeowner making now?
  • What has changed financially for the homeowners.
  • How much are all of the expenses that you have? (a list of expenses will be made)
  • How much is in savings or retirement accounts?

 

 

The reason for questions regarding retirement accounts is because the lender is not able to require you to cash out your retirement account and pay the deficit.  However, they are able to turn down a short sale because of this.  They can also ask you to pay a small note or things of that nature.

Please note that a short sale can still be approved with no hardship but the homeowner is going to have to contribute to the sale.

When a homeowner that is considering a short sale asks “Do I qualify for a Gainesville short sale” we know that this must be an emotional and very frustrating time in their lives. This is why it is so very important to find an experienced short sale agent to work with.  There is so much information out there regarding short sales, Please note that some of the information is myth and incorrect.

We cannot stress enough how important it is to find an experienced agent to help guide you through your short sale process.  We have exceptional experience in this area. For the best advice to questions that you may have please contact our office and speak with one of our agents.

Other Articles to Read:

What is a Short Sale?

Short Sale Process – What to Expect

Short Sale Top 10 Questions

Do I Have to Pay for the Real Estate Agents Commission?

Call Stephanie Anson today at 352-260-0153 for a confidential phone interview regarding your options.

Please seek legal advice. This information is for informational purposes only.

Contact Stephanie Anson, CLHMS, CDPE, SFR, Realtor®, Anson Properties LLC. Licensed Realtors® in Florida at 352-260-0153 to list your property for sale or to purchase a property in Gainesville, Archer, Alachua, High Springs, Waldo, Keystone Heights, Hawthorne, Melrose, Cross Creek, LaCrosse, Williston, Earlton, Ocala, Micanopy, Newberry, Kanapaha, Haile Plantation, Duck Pond and the rest of Alachua County Florida, Orange County Florida and Seminole County Florida. We are accepting referrals.

  

Click Here to Leave a Comment Below 0 comments