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3 Questions To Ask Before Hiring A Short Sale Agent

It is imperative that as a Gainesville homeowner you do your research prior to choosing an agent to work with with considering to short sale your home. Choosing the right agent can make the difference between the success or the failure on your short sale. There is much at risk and you have much to lose if you do not do your due diligence. The short sale can be denied and the home foreclosed resulting in a deficiency that can lead to wage garnishment. It will have a huge impact on your credit and you will not be able to buy another home for over 5 years or more. If you hold a financial position or security clearance you may lose your job and or clearance.

It is just as important that your agent knows how to evaluate the buyer and buyer’s agent to ensure the proper expectations are set. Nothing worse than getting close to the approval letter for the buyer to walk or only be half interested and find this out after spending many hours and time working through the short sale process.

So here are the questions I would ask an agent before hiring any agent.

Question #1: How many short sales have you listed and sold in the past 6 months?
Banks are consistently changing their policies and procedures and you will want an agent that is familiar and experienced in managing these updates.

Question #2: In the past, what lenders have you negotiated short sales with?
There are many small short sale bank lenders, however, your agent should be familiar with the largest banks policies and procedures. Lenders such as Bank of America, Chase, Wells Fargo and Sun Trust are the most prominent with short sales

Question #3: What is your success rate on getting short sales approved? Look at the agent’s track record and ask for specifics about how the transaction was processed, the challenges and how they were able to overcome them. Hard work is shown through diligence and persistence.

Other Articles to Read:

What is a HOA Foreclosure?

What is HAFA?

How Long Does A Short Sale Take?

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.

 

  

 

  

Gainesville Short Sale Update – Banks Are Calling Homeowners To Solicit Short Sales

On December 12, the Bank of America’s cash-back incentive, which enticed delinquent borrowers to do a short sale over a long foreclosure, has closed out. Gainesville short sale real estate agents had contrasting reviews and homeowners had indifferent feedback.

Relocation expenses worth between $5,000 and $20,000 have been offered to homeowners who qualified for the Florida-only program and in lieu of the average two-year foreclosure process, these homeowners consented to leave their homes.

Surprisingly, only around 3,000 homeowners out of the 20,000 solicited by the bank had shown interest in the plan by early December. Short Sale Banks, unlike the prior year, are now proposing great incentives and deals to homeowners.

A Gainesville short sale happens when a lender allows a lower payment for a home than the mortgage amount owed. The bank occasionally agrees to waive the deficiency judgment as well. According to banks, companies such as JPMorgan Chase and Wells Fargo started offering cash incentives to homeowners who consented to do Gainesville short sales.

As per a November RealtyTrac report, foreclosures are taking an average of 749 days up, which is longer as compared to 684 during the prior year. Recently, banks are realizing that doing a short sale is a cheaper approach than allowing foreclosure to take place. Foreclosures will cost much from banks. Florida has been chosen as a testing ground due to its high foreclosure incidence. It might be applied to other states if the program becomes successful.

In order to qualify, homeowners need to submit their Gainesville short sale approval on Dec. 12, which is an extended deadline. The closing must take place before August 31 and the homes must not have offers on them already.

A Gainesville homeowner submitted an application for the incentive program, which seems to be under the HAFA guidelines. His application was rejected because his credit limit was above 31%. The home owner was later given a guarantee for the program but was later on disapproved and this happened after his meeting with some representatives from the Gainesville short sale department. The two representatives have been in disagreement w/ each other. It seems that additional training needs to be provided to Bank of America’s employees.

Other Articles to Read:

What is a Short Sale?

Gainesville Short Sale Myths

Top 10 Questions

What is the Difference between Note or Promissory Note and Mortgage or Deed of Trust?

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.

  

Gainesville Short Sales – Why do Short Sales Not Close?

Gainesville Short Sales – Why do Short Sales Not Close?  How many times have you heard about that bank short sales do not close? When I speak with clients who are interested in getting a great deal through buying short sales, they are consistent in saying that short sales either do not close or take over a year to short sale.  I also hear this from Gainesville Real Estate Attorneys who refuse to handle short sales. Additionally, there are agents that act as if they understand short sales and make demands about timelines and statements without understanding how the timelines work and short sale process actually works.

What is the main reason you are not closing your Gainesville short sales?  Do you truly understand how to short sale?

  • If your ratio of closing short sales is not over 90% then you should not be listing short sales and you should refer them to a Gainesville Short Sale Agent that achieves this success rate or better.
  • Are you completing an evaluation with each seller prior to listing their home for a bank short sale.  This critical first step will provide you the information whether the home will close or not.

The last thing anyone should do is sacrifice a homeowner by getting a listing without taking into consideration you are gambling with their home and livlihood.  Not every homeowner will qualify for a short sale or are willing to dedicate themselves to the process.

Here are a few steps each Gainesville Short Sale Agent needs to verify and clarify prior to taking a listing:

  • Review the short sale package the seller turns into you – this should be completed prior to listing their property for a short sale and it will reveal whether there will be any issues that need to be addressed before listing the home.
  • Make sure the seller understandts the short sale process – You will know upfront if they are motivated to provide you the information necessary for you to help them through the process and if they are committed to participate, if you complete the intake properly there should be no reason for the short sale not to close.
  • Do not give up on the lender, do not give up on your seller (remember this is a very emotional process), do not act like a debt collector. This means you need to be the advocate, the one that brings the parties together for a successful close, the short sale agent that is dilligent, consistent, honest and assertive.
IF the seller is going to get foreclosed on next week- you don’t LIST the short sale! 
The odds are in your favor if you know how to negotiate a short sale that you will get your short sales closed. 

If you do not then you need to take a good negotiating course and short sale course such as the one offered by Katerina Gassett who has authored Short Sale Success. Do not take the listing if you lack the experience.  Additionally, you can work with an experienced agent and help them with their bank short sale listings. Yes they are time consuming and can be tough.  There may be days you speak to over 10 people at one short sale bank to get the right answer or to speak with someone who knows what they are doing!

Other Articles to Read:

What Gainesville Underwater Homeowners Say

Gainesville Short Sales – Know Your Options

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.

  

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Gainesville Short Sales | What Can a Short Sale Agent do for Me?

Gainesville Short Sales | What Can a Short Sale Agent do for Me?

As a Certified and Accredited Gainesville Short Sale Agent Specialist, I will meet with you face-to-face to talk about your unique situation and help you understand what options and programs are available to you.

As Gainesville Short Sale Agent, I will walk you through what a short sale means to you, options to avoid foreclosure, explain the documents you will need to provide to your mortgage company, how to work with your lender if they are calling you, list and market your property if it is the right solution and in many cases, I will handle the entire process of working with your mortgage company for you. We will first discuss what is a bank short sale, judicial foreclosure, what is a judicial foreclosure, how long is a short sale, how it will affect credit and answer your question of can I do a short sale.

As a Professional Gainesville Short Sale Agent you can rest assured that I will never assess any charge for the assistance I provide to you. As a Certified Distressed Property Expert from the Certified Distressed Property Institute, I have been trained and certified to help homeowners take action to proactively resolve their mortgage situation.

I volunteer my time to provide you, the homeowner, with as many hours of consultation and assistance that might be needed; from helping you understand how to write the short sale hardship letter to working through the offer with the short sale buyer.  I process your file and negotiate with your mortgage company, at no charge to you.

From the beginning of the short sale process in Gainesville FL to the successful closing on the sale approval of the home, I make sure that your interests are respected, your choices are adhered to and your financial interests are protected.

As a Gainesville Short Sale Agent, I advocate on your behalf in order to get you results you can count on, with integrity you can trust in. Your future can improve with one phone call. Together we will discuss your options and sort out your best approach. We communicate with lenders, banks and buyers to negotiate the best options for a closed short sale.

When you’re looking for a Gainesville Florida Short Sale agent with superior local knowledge, experience, professionalism, integrity, and personal service –  Stephanie Anson brings them all to serve you.

Other Articles to Read:

Short Selling and Renting from the New Owner

Distressed Sales Still Depress Home Prices

Will Florida Speed up the Foreclosure Process?

Loan Modification Failures Are Rising

 

Call Stephanie Anson today at 352-535-0620 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.