How to Sell Your Home Fast with a Short Sale

These tips for making your home sell fast are sure to streamline the process.

Begin preparing the paperwork as soon as possible. Your real estate agent or short sale investor is often able to help. Typically you will need the following items:

• Hardship letter
• Tax Returns
• Bank Records
• HOA, Property Taxes and other pertinent outlays associated with the property.
• Copy of Mortgage statements, liens or other monies owned on the house.
• Put out the word. Let everyone know you need to sell the home – fast. Use works like ‘motivated seller’ or “distressed homeowner” to indicate a willingness to work with buyers able to provide a fast closing.Contact the lender to let them know your situation. Perform maintenance and upkeep as you are able. If finances are an issue, try to make the property appear as attractive and well maintained as possible.
• Create a list of what you need the most from this deal. For example, if you need a fast closing avoid bankruptcy then say-so when speaking with the agent or potential short sale buyers. If you need a new place to live or rent after closing then mention that as well. Often these items can become part of the negotiation process to help make the deal work.
• Identify personal property prior to accepting a final offer. If you intend to take the appliances be sure to specify this in advance. Likewise, it’s important to bring all items that will remain with the home (good and bad) as well as be removed from the home prior to entertaining offers.
• Make a folder of all contact information and paperwork. Keep it accessible when speaking with real estate agents or potential buyers. Remember, everything must be in writing and never sign something you don’t fully understand.
• Avoid entertaining multiple offers all at once. While this might seem like a good way to increase the odds of a successful sale, it often creates unnecessary delays that could result in your losing the home or growing farther into debt. Instead, ask to see proof of financing or other indication of a quick closing.
• Keep it realistic. Even the most reputable short sale offer is likely to be somewhat slow given the large number of sales currently going through the system. A lot of sellers are searching for solid short sale offers so increase your odds by responding quickly to all inquiries and remaining patient throughout the process.
• Start Early. The sooner you start the better the odds of selling your home before it becomes critical or urgent.

Should I short sale my home?

Should I short sell my house?

What is a short sale?

A short sale is when you sell your house for less than the total payoff of your loans on the house.  Short sales are popular as a way to avoid foreclosure and sell your house.  Your lenders need to approve a short sale before the transaction can take place.

What are the benefits of a short sale?

There are many benefits of a short sale.

For the homeowner,

• you can avoid having a foreclosure on your credit.
• You can avoid having to file bankruptcy.
• You can sell your house and get out from under the financial burden of a mortgage you can’t afford and cannot pay off.

For the bank,

• The bank can avoid having to file foreclosure and go through a lengthy and expensive process.
• The bank can get a house sold instead of having to try to sell the house as a bank owned foreclosure.
• The bank can remove a non-performing asset from their books and make new profitable and performing loans.

How do I get started on a short sale?

To get started with a short sale on your home, contact a local short sale expert.  Due to the down turn in the housing market, many areas are seeing short sale specialists popping up.  These specialists may be Realtors or investors that are trying to take advantage of the market conditions.  You may want to read this article before choosing a short sale expert.

You can also contact us at http://www.donedealsolutions.com.  We are Arizona short sale experts with offices in Colorado, Washington, California, and Oregon.

Can I sell my house to stop foreclosure?

If you are looking to sell your house to stop foreclosure there are a few steps you will need to take.

1. Determine how much you owe to the bank? This will include late fees and back payments plus lawyers fees.  You can request a payoff amount from your lender that will include all of these fees plus the balance that you owe on your mortgage.

2. Find out how much you can sell your house for. Talk to a local real estate agent or visit online resources such as zillow.com to determine the market value for your house.

3. If you owe less than your house is worth, you may be able to sell your house to stop foreclosure by listing your house with a real estate agent or trying to sell your house by owner.  Also you could contact a we buy houses investor in your area to get a cash offer within a few days.

4. If you owe more than your house is worth, you will need to attempt a short sale.  A short sale is when you sell your house for less than is owed to the bank.  In this case, the bank will need to approve any purchase contracts because they will be losing money in the transaction.  Banks will only accept a short sale if they feel they are going to save money by accepting a short sale instead of completing the foreclosure process.

To sell your house fast and stop the foreclosure, contact a local realtor or investor in your area.  In Arizona, contact your local Arizona short sale experts or Arizona short sale realtors to discuss your foreclosure options.

Can I sell my house back to the bank?

Can you sell your house back to the bank?

The short answer is no.  The bank does not want your house.  They want to loan money, they are not in the business of owning real estate and they are not looking to buy your house.  If you need to sell your house fast, contact a we buy houses investor in your area.

If you are thinking about selling your house back to the bank, you’re probably behind on your payments and facing foreclosure or the value of your house is less than what you owe to the bank.  In either case, you have options available to you.  Contact a local real estate agent or investor that can talk to you about your foreclosure options.

One option is a deed in leiu of foreclosure.  Basically the bank will accept the property back.  Most times these are hard to do and most banks are not willing to take the property back.  Again, they do not want your house.

Another option is a short sale.  A short sale is when the bank allows you to sell your house for less than you owe.  Depending on your state and your specific situation, you could owe money to the bank after the sale.  Talk with a local real estate attorney that is familiar with your state’s laws.   If you are interested in an Arizona short sale, contact us to discuss your situation.  We have a team of attornies, real estate agents, and investors that can guide you through the process.

If you are unable to get a short sale completed, you have the option of letting the house go into foreclosure, filing bankruptcy, renting out the house, or continuing to make the payments as long as you can.  The choice is yours but before making a decision, make sure you get all the facts.