Category Archives: Short Sales

Home. Message of home with wooden letters.

The process of buying a Short Sale home is different than buying a typical house. Instead of handling the negotiations yourself, a real estate agent can help you get the best deal possible. These agents can handle the paperwork and deal with the lender. They can also walk you through the process step by step. To buy a Short Sale, you should be patient. The process could take as long as four months. However, it is worth it in the long run. When you first start the process, you will be working with a real estate agent. A good agent will be able to check public records and provide advice on making offers. During the short sale process, you will also be dealing with the seller’s agent. You should prepare yourself mentally for a three to twelve-month wait, which is longer than the average home-buying process. If you plan on…

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Home sweet home

If you are underwater on your mortgage and you’re in need of a refinance, consider a Short Sale. These are mortgages where the homeowner is unable to make the payments. In the past, this type of sale was reserved for homeowners with severe financial problems, but now home values are starting to recover. Because interest rates have declined, more homeowners are refinancing. To qualify for a Short Sale, you’ll need to show a financial hardship. Proof of hardship may include a hardship letter, pay stubs, or other financial documents. To avoid foreclosure, sell your Fairfax house in a private sale. Before you submit a short sale proposal, you’ll need to verify the buyer’s financial capabilities. The lender will need to view the buyer’s most recent bank statements and a preapproval letter. Without this information, you’ll be wasting valuable time and money on a short sale approval process. To avoid this…

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