GARealtyGroup | 2ShortSaleGuys: November 2012

Sunday, November 25, 2012

Winder, GA Short Sale - Beautiful property in the heart of downtown Winder, GA

This home is amazing and will not last long. Check it out

Amazing Short Sale listings from a Keller Williams team that has proven success of closing quickly.

Average days on market are currently 111 days

All short sales are worked in house by our team of experienced Short Sale Experts.

Monday, November 5, 2012

Tomorrow is YOUR day, no one Else's!!!

At 2ShortSaleGuys, we aren’t going to tell you who you should vote for or even ask you who you voted for. But we do want to remind you that tomorrow (Tuesday, November 6, 2012) is the presidential election day. If you haven’t already taken the opportunity to vote early, please take time out of your day to exercise your right to vote. This is a very viatal part of American history and tradition.

Below are county links if you are unsure of where to vote. If you need help, call us and we will assist you in finding yourself to your voting precinct the best we can.

Barrow County, Georgia Voting

Jackson County, Georgia Voting

Gwinnett County, Georgia Voting

Hall County, Georgia Voting

Banks County, Georgia Voting

Below is the state website that can assist you if you are not in one of the above counties that we have named.

Thank you for your dedication to America and your state!!!

14 Steps to a successful short sale by 2ShortSaleGuys

At 2ShortSaleGuys we adhere to a 14 step process with our Short Sale Listings. We use this process to ensure we are systematic in processing the short sale and effectively getting a faster approval time on our listings that is currently 111 days from start to finish.

I will briefly outline the 14 steps to our process and explain what happens during that stage of the process.

STEP 0 – LEAD

We typically conduct a phone interview to determine the ability for us to short sale the property. During the call we will determine the hardship and financial situation.

STEP 1 – Package to Seller

We will send a package to be filled out by the seller and it outlines every thing we need to facilitate the short sale.

STEP 2 – Package Received

The seller has returned the package and documents needed for the short sale. The review process begins.

STEP 3 – Active Listing

We have placed the property in the listing service and are actively marketing the property awaiting an offer.

STEP 4 – Initiated / Faxed

The facilitation assistant has began the process with mortgage lender(s).

STEP 5 – Pending Bank Approval

We have received an offer, the seller has signed the offer and are processing the offer to be presented to the mortgage lender.

STEP 6 – BPO ordered

BPO (Broker Priced Opinion) has been ordered by the mortgage lender to determine the value of the property. This is done by an outside agent not associated with the transaction.

STEP 7 – BPO Complete

BPO has been returned to the mortgage lender and they are processing the short sale file to determine the amount of loss they are willing to take.

STEP 8 – Counteroffer

The mortgage lender has countered the offer of the buyer to decrease their amount of loss.

STEP 9 – Verbal Approval

The mortgage lender’s negotiator has verbally stated that the short sale meets the mortgage lender’s policies for approval and is processing the short sale approval letter.

STEP 10 – Written Approval

The facilitation assistant has received written approval of the short sale from the mortgage lender.

STEP 11 – Approved – UNDER CONTRACT

During this time the closing date is set and typically the wait on the buyer’s lender to prepare for closing.

STEP 12 – Final SS Approval

The Facilitation Assistant prepares in conjunction with the closing attorney the required documents needed by the mortgage lender and the mortgage lender has given their final approval of the short sale.

STEP 13 – CLOSING

The transaction is closed and clear title is conveyed to the buyer.

Although, this may seem like a lot of steps, it’s really not. Some stages are skipped depending on the mortgage lender’s requirements and the situation of the buyer and seller.

Amazing Short Sale listings from a Keller Williams team that has proven success of closing quickly.

Average days on market are currently 111 days

All short sales are worked in house by our team of experienced Short Sale Experts.

Saturday, November 3, 2012

Now what does my Short Sale Hardship Letter need to say?

We get calls everyday of homeowners wanting to "get rid" of their home. I can tell you that we often tell people that they don't qualify for to sale them home as a Short Sale as they do not have a valid hardship that will be a reasonble option for the mortgage lenders to approve. We do not give our clients any false hope and if we think that there will be an issue with the home we want to tell the homeowner up front.

There are two things that "make or break" a short sale. First, the homeowner must have a hardship, secondly, they need to fill out a financial affadavit.

So the hardship letter needs to have four key points in it.

1.) Account Information - Address the hardship letter to the mortgage lenders and include your account number.

2.) Hardship - Why do you need to short sale, fully document your situation that has caused you to ask the lender to short sale.

3.) Request a Short Sale - Ask the mortgage lender to short sale your property. A lot of people we talk to think that the mortgage lender HAS to allow them to short sale. Please remember, you signed a promissory note that you would pay a set amount of dollars for a set amount of years. At this point, no matter what the circumstance is, you are asking the mortgage lender to change the agreement to benefit you.

4.) Deficiency Balance - Ask the bank to approve the mortgage and waive the deficiency balance. If you owe $125,000 and we sale the home for $100,000, that leaves a $25,000 defeicency balance. In some cases the banks will waive the right to collect on that $25,000.

We are going to do everything in our power, if you qualify, to get your home sold and get the Short Sale approved in a timely manner, should you have further questions, let us know, we will gladly talk with you confidentially and assist you with your particular situation.

Amazing Short Sale listings from a Keller Williams team that has proven success of closing quickly.

Average days on market are currently 111 days

All short sales are worked in house by our team of experienced Short Sale Experts.

Friday, November 2, 2012

Avoiding Foreclosure really happens!!!

This week was a week that we love in the Short Sale Industry. We had a lady come to us on Friday (October 26th), she needed to rent a home for her family. She stated that her home was going to be foreclosed on November 6th. She was very upset and stated she didn't know what to do. Bill started talking with her and she had been laid off for some time now. She had some medical issues and stated that she had NEVER been late a day prior to this employment layoff. Bill asked her if she would be willing to help him by filling out a couple key papers, an authorization to allow us to contact her mortgage lender, and then set up a time to talk with Nakia for a short sale intake consultation. She did. We processed the authorization, over the weekend, we priced the property appropriately to get people inside the property to do an offer. We got multiple offers over the weekend, FULL PRICE, we had the seller come into the office on Monday. We received noticed from the Chase today that we have had the foreclosure POSTPONED and they are actively working our short sale.

These sellers along with 70% of the other households foreclosed on monthly did not know what their options are and this family was truly unaware of their options. We believe at 2ShortSaleGuys that it is our duty to do everything possible to prevent foreclosure for their families that put their trust in us. It's not about taking the listing so that we can better our numbers, or getting the listing so that our investors can have "first dibs" on the property when it goes to foreclosure. It truly makes our week that we can STOP FORECLOSURE.

If you or someone that you know are in need and need to "Avoid Foreclosure", contact a Realtor who knows what they are doing, ask them how many short sales they have completed, how many short sales they have now and what education they have completed in order to ensure that you have an experienced Realtor that can assist you.

Amazing Short Sale listings from a Keller Williams team that has proven success of closing quickly.

Average days on market are currently 111 days

All short sales are worked in house by our team of experienced Short Sale Experts.