Often, when the amount of a mortgage on a home exceeds the value, and the homeowner cannot make their payments, with foreclosure becoming imminent selling the home may be the best option. Lenders, even though it doesn’t always seem that way, do not want to foreclose. Tough times call for difficult measures and many times there is no other option for the borrower than going to their lender to get short sale help. The procedure, or time frames, of foreclose range greatly. The more the lender spends the more money than you will be 1099’d for whether it goes through foreclosure or a real estate short sale. Therefore, instead of going through a foreclosure, you can ask the lender to accept an amount that is lesser than the actual accrued value.
How do Professionals Initiate a Real Estate short sale?
We are often approached to real estate short sale process for many of the top real estate agents in the United States and even now during this global financial crisis we can work with home owners abroad. One of the most frequently asked questions is about how to approach their clients. A real estate short sale should be approached like any other listing. There is nothing like doing a face to face and meeting them personally in order to get the real estate short sale listing for their home. This isn’t the only way but it is definitely one that has proven to be tried and true. Make sure that when you show up to your clients home you have done a Comparative Market Analysis and ask the homeowner for the outstanding balances. Even if they don’t know an exact figure in most cases you should be able to tell if they are in a negative equity position. For those that are on the line try to estimate around 9-10% in closing costs and then establish if any of the lien holders will not be getting paid in full.
Why Hire a Professional Company to Process Real Estate short sale?
Whether you are the homeowner, or the professional with the listing, you need to be on the cutting edge of this market. A homeowners home could depend on your knowledge. In a business that changes every day you cannot leave in a place where you just “didn’t know”. Companies like Absolute Consultant Group (ACG) are on the crest of the financial tidal wave and see a volume that is nearly second to none. Even agents that do volume cannot compare to a company that deals with hundreds at any given time. With a shared data base, a company like ACG, disseminates information to its staff so the learning curve is much steeper. A steeper learning curve means fewer issues for homeowners than would otherwise be encountered.
What Real Estate Agent Can do?
Agents that have limited listings tend to be hesitant, along with agents that have found some success, ask themselves why use a company to process their real estate short sales? Well even though many have been successful there are two factors they are up against. First, in many cases they are one person, or one person with a small staff, which is limiting when they go out of town, fall ill, have to be hospitalized and many other situations that can affect them leaving their files vulnerable. Secondly, this business is no different than any other business which revolves around who you know. ACG cannot make promises that it can make any certain results happen but having been in the business going on a decade they have amassed thousands of contacts which they use for everything from getting files going to escalating the most sensitive files. Even ACG knows that one contact at a bank is not enough and sometimes they need to send 15-20 emails till they get to someone that can help.
How do I get started with MyShortSalesAgent?
After the mortgage crisis that started in of 2006, millions of American homes had to opt for real estate short sales. This is a legal and acceptable way of settling an upside down mortgage and saving yourself from unnecessary formalities. Most of the homeowners get a foreclosure notice and the event is merely days, or weeks, away. This makes them panic but there may still be time to seek real estate short sale help. You can contact ACG whether you are an attorney, agent, homeowner or buyer. Letting them know what you are up against is the best way to get going. You can call our customer service at 888-934-3444.
We Talk To Them So You Don’t Have To!
Our specialized experts are there for you and because we don’t only do real estate short sales you can run the tough questions by our staff. We can help you in discovering the options that are right for you or your clients. The real value is that you can count on us to be in your corner an we can talk directly to your lender on your behalf so that you don’t even have to worry about talking to any aggressive collection agents.