I am looking for a short sale realty that could help me with my Condo. Is there any realtor that can be for assistance?
Contact the bank or lending agency that financed your condo . . . they usually throw the deals to specific realtors.
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January 31st, 2010 at 10:07 pm
you’re gonna have to get the bank to agree to a short sale first…helps if you’re already behind…
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January 31st, 2010 at 10:30 pm
Contact the bank or lending agency that financed your condo . . . they usually throw the deals to specific realtors.
References :
January 31st, 2010 at 10:40 pm
You can’t just elect to sell your property for less than the mortgage. You have to have it approved by your lender. As for hiring a Realtor, make sure you are dealing with one that has handled short sales, foreclosures and knows the ramifications of each and has a negotiator working for them who only deals with the lenders. You may have to search awhile, but believe me, it is well worth the extra commission you might have to pay .
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January 31st, 2010 at 11:05 pm
A short sale is as bad as a foreclosure on your credit report. You will not be able to buy another house for at least 7-10 years.
If you have no equity in the condo (none ever do), just ask them for a "Deed in lieu of foreclosure". This means that you are handing over the condo without having to go through a short sales, or a foreclosure. You might convince them to not give you a derogatory mark on your credit reports.
This process saves them many thousands of dollars in foreclosure costs.
Trying to sell a condo in today’s market is almost impossible.
If you are in San Francisco Bay area, contact me through Yahoo and I’ll try to help.
References :
http://en.wikipedia.org/wiki/Deed_in_lieu_of_foreclosure