Real Estate Short Sale http://real-estate-short-sale.net Wondering if a Short Sale is Right for You? Sun, 23 Aug 2009 00:58:31 +0000 http://wordpress.org/?v=2.9.2 en hourly 1 http://real-estate-short-sale.net http://real-estate-short-sale.net/wp-content/plugins/maxblogpress-favicon/icons/favicon-26.ico Real Estate Short Sale Will a short sale go for the listed price? http://real-estate-short-sale.net/short-sale-questions/will-a-short-sale-go-for-the-listed-price/ http://real-estate-short-sale.net/short-sale-questions/will-a-short-sale-go-for-the-listed-price/#comments Sun, 23 Aug 2009 00:58:31 +0000 Unregistered User http://real-estate-short-sale.net/?p=194
I have a real estate question about short sales. If you know anything about investing in real estate, please read this. I found this really nice 3355 sf house in Arizona, 5 bed, 3 bath and it is listed for $299,000 as a short sale. A real estate person told my mom that short sales never [...]

Will a short sale go for the listed price? is a post from: Real Estate Short Sale

]]> I have a real estate question about short sales. If you know anything about investing in real estate, please read this.

I found this really nice 3355 sf house in Arizona, 5 bed, 3 bath and it is listed for $299,000 as a short sale. A real estate person told my mom that short sales never go for the low price, and that they always sell for more.

So my question is, can you get a short sale house for the listed price?

Will a short sale go for the listed price? is a post from: Real Estate Short Sale

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]]> http://real-estate-short-sale.net/short-sale-questions/will-a-short-sale-go-for-the-listed-price/feed/ 1 Why would banks not allow short sales? http://real-estate-short-sale.net/short-sale-questions/why-would-banks-not-allow-short-sales/ http://real-estate-short-sale.net/short-sale-questions/why-would-banks-not-allow-short-sales/#comments Wed, 19 Aug 2009 13:41:23 +0000 Unregistered User http://real-estate-short-sale.net/?p=175 Why would banks not allow short sales? is a post from: Real Estate Short Sale

]]> What is in it for a bank to not allow a short sale?

I know several people whose banks will not allow them to do a short sale instead of being foreclosed upon. Is there something in it for the banks (tax write-offs?) that makes it more beneficial for them to deny short sales?
Some of the people have had a buyer ready to buy if they were allowed a short sale too.

Why would banks not allow short sales? is a post from: Real Estate Short Sale

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]]> http://real-estate-short-sale.net/short-sale-questions/why-would-banks-not-allow-short-sales/feed/ 0 How should I put an offer to a short sale house? http://real-estate-short-sale.net/short-sale-questions/how-should-i-put-an-offer-to-a-short-sale-house/ http://real-estate-short-sale.net/short-sale-questions/how-should-i-put-an-offer-to-a-short-sale-house/#comments Tue, 18 Aug 2009 22:56:19 +0000 Unregistered User http://real-estate-short-sale.net/?p=172 How should I put an offer to a short sale house? is a post from: Real Estate Short Sale

]]> I live in central NJ with still high real estate market, but plenty of foreclosure and short sale.
There is a house listed for 509k in short sale. It seems to be in good condition in a nice area. So I was wondering how low offer should I put on this house?

How should I put an offer to a short sale house? is a post from: Real Estate Short Sale

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]]> http://real-estate-short-sale.net/short-sale-questions/how-should-i-put-an-offer-to-a-short-sale-house/feed/ 1 Who pays the real estate agent buyer in a Short Sale deal? http://real-estate-short-sale.net/short-sale-questions/who-pays-the-real-estate-agent-buyer-in-a-short-sale-deal/ http://real-estate-short-sale.net/short-sale-questions/who-pays-the-real-estate-agent-buyer-in-a-short-sale-deal/#comments Mon, 17 Aug 2009 19:16:18 +0000 Unregistered User http://real-estate-short-sale.net/?p=179 Who pays the real estate agent buyer in a Short Sale deal? is a post from: Real Estate Short Sale

]]> If you are going to pay a short sale house who is going to buy your real estate agent?

Another advice that I’d like to read. If you looking for a short sale house that price is decreasing the prices from a couple a months ago 290k to current 240k , what should I assume? It is possible that the price to start bid is still going down in those crisis days?

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]]> http://real-estate-short-sale.net/short-sale-questions/who-pays-the-real-estate-agent-buyer-in-a-short-sale-deal/feed/ 1 How long does it usually take for a short sale to go through? http://real-estate-short-sale.net/short-sale-questions/how-long-does-it-usually-take-for-a-short-sale-to-go-through/ http://real-estate-short-sale.net/short-sale-questions/how-long-does-it-usually-take-for-a-short-sale-to-go-through/#comments Fri, 14 Aug 2009 14:42:22 +0000 Unregistered User http://real-estate-short-sale.net/?p=156 How long does it usually take for a short sale to go through? is a post from: Real Estate Short Sale

]]> How long does it usually take for a short sale to go through once the seller has accepted my offer?

I don’t need an exact time-frame just an approximation of an average short sale. As of today it has been 78 days and we have not heard anything from the lender at all?

We know that the offer is not lost, nor have they accepted another as the seller’s agent just talked to the bank this morning. We are just waiting for the lender to get a move on this.

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]]> http://real-estate-short-sale.net/short-sale-questions/how-long-does-it-usually-take-for-a-short-sale-to-go-through/feed/ 1 How does a Short Sale affect your credit score if you are current on your mortgage? http://real-estate-short-sale.net/short-sale-questions/how-does-a-short-sale-affect-your-credit-score-if-you-are-current-on-your-mortgage/ http://real-estate-short-sale.net/short-sale-questions/how-does-a-short-sale-affect-your-credit-score-if-you-are-current-on-your-mortgage/#comments Thu, 13 Aug 2009 17:59:56 +0000 Unregistered User http://real-estate-short-sale.net/?p=165 How does a Short Sale affect your credit score if you are current on your mortgage? is a post from: Real Estate Short Sale

]]> I am current on my mortgage payments but my job needs me to relocate out of the state. My home value has gone down significantly since I bought it. I was working with a realtor and was informed that a short sale is my best option. How will this short sale affect my credit? I do not wish to destroy my credit when I am current on my mortgage payments. Is it going to affect my credit at all?

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]]> http://real-estate-short-sale.net/short-sale-questions/how-does-a-short-sale-affect-your-credit-score-if-you-are-current-on-your-mortgage/feed/ 1 Is a real estate short sale an option for me? http://real-estate-short-sale.net/short-sale-questions/is-a-real-estate-short-sale-an-option-for-me/ http://real-estate-short-sale.net/short-sale-questions/is-a-real-estate-short-sale-an-option-for-me/#comments Mon, 10 Aug 2009 13:09:21 +0000 Unregistered User http://real-estate-short-sale.net/?p=142 Is a real estate short sale an option for me? is a post from: Real Estate Short Sale

]]> Hi everyone – I am going through a lot nowadays. I’m single and expecting a baby in Jan. I am late on my house payments and don’t want a foreclosure – I am very scared. I spoke to my Realtor and she offered to do a short sale in which instead of losing my house I would find a buyer for my house for less than I owe, which is about about $405,000, on it and since homes are down right now I can’t even sell it – I will lose money if I do. Is anyone familiar with this please help – I need advise. Thank you.

Is a real estate short sale an option for me? is a post from: Real Estate Short Sale

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]]> http://real-estate-short-sale.net/short-sale-questions/is-a-real-estate-short-sale-an-option-for-me/feed/ 0 How long does it take for Citibank to answer a short sale offer? http://real-estate-short-sale.net/short-sale-questions/how-long-does-it-take-for-citibank-to-answer-a-short-sale-offer/ http://real-estate-short-sale.net/short-sale-questions/how-long-does-it-take-for-citibank-to-answer-a-short-sale-offer/#comments Sun, 09 Aug 2009 15:03:52 +0000 Unregistered User http://real-estate-short-sale.net/?p=146 How long does it take for Citibank to answer a short sale offer? is a post from: Real Estate Short Sale

]]> I have submitted a short sale offer to Citibank. I have not heard back from them for a while. Does anyone know how long it takes for  Citibank to process a short sale offer? Or, how long does it take them to respond at all (whether they accept the short sale offer or not). My Realtor said it usually takes between 6 to 8 weeks and that depend on which back is processing the short sale offer. But she also said she had not previous experience with this specific bank. If anyone does, your information will be appreciated.
Thanks.

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]]> http://real-estate-short-sale.net/short-sale-questions/how-long-does-it-take-for-citibank-to-answer-a-short-sale-offer/feed/ 1 Is it worth buying or investing in short sales? http://real-estate-short-sale.net/buying-a-short-sale/is-it-worth-buying-or-investing-in-short-sales/ http://real-estate-short-sale.net/buying-a-short-sale/is-it-worth-buying-or-investing-in-short-sales/#comments Sun, 09 Aug 2009 01:11:07 +0000 Unregistered User http://real-estate-short-sale.net/?p=147 Is it worth buying or investing in short sales? is a post from: Real Estate Short Sale

]]> I want to buy a short sale for real estate. Is it worth it?

I don’t have any experience in buying short sales, but would like to start. I have an undergrad in accounting and economics.

My question is Is it worth it (to invest in short sale real estate)? What channels of communication will I need to start? What are the basics that I will need to start?

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]]> http://real-estate-short-sale.net/buying-a-short-sale/is-it-worth-buying-or-investing-in-short-sales/feed/ 0 How is a real estate short sale normally reported to the credit bureaus? http://real-estate-short-sale.net/short-sale-questions/how-is-a-real-estate-short-sale-normally-reported-to-the-credit-bureaus/ http://real-estate-short-sale.net/short-sale-questions/how-is-a-real-estate-short-sale-normally-reported-to-the-credit-bureaus/#comments Thu, 06 Aug 2009 00:25:48 +0000 Unregistered User http://real-estate-short-sale.net/?p=136 How is a real estate short sale normally reported to the credit bureaus? is a post from: Real Estate Short Sale

]]> I short sold a home a couple of years ago. The short sale was reported to all three credit bureaus as being ” Settled for less than the full balance, paid as agreed”.

However on my Equifax and Experian credit report the account shows “settled for less than the full balance, paid as agreed and lastly Foreclosure”.

However the final status for the accounts show closed and not RF as would be posted after a foreclosure.

I do not have any public records or judgments on my credit. I am wondering now if it is accurate that a completed short sale would reflect as a foreclosure. I had this mortgage with Ameriquest Mortgage and have not been able to get any answers about this since it was two years ago.

I have done as they have asked and have submitted to them in writing my dispute. Has anyone ever done a short sale. Can you tell me how it appeared on your credit report please.

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]]> http://real-estate-short-sale.net/short-sale-questions/how-is-a-real-estate-short-sale-normally-reported-to-the-credit-bureaus/feed/ 0 What are my chances of getting short sale home? http://real-estate-short-sale.net/short-sale-questions/what-are-my-chances-of-getting-short-sale-home/ http://real-estate-short-sale.net/short-sale-questions/what-are-my-chances-of-getting-short-sale-home/#comments Sun, 02 Aug 2009 13:03:22 +0000 Unregistered User http://real-estate-short-sale.net/?p=108 What are my chances of getting short sale home? is a post from: Real Estate Short Sale

]]> I put in an offer for a short sale. I offered the asking price. This is a home that is an unbelievable steal. We were the first ones to make an offer and the homeowner accepted. But we know many others will also be interested. I know that the process takes a long time as our realtor told us it would be 30 days before the bank even assigns the case to someone. If someone offered more than the asking price what are the chances we can increase our bid to get the house? Do you think I’ll get this house?

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]]> http://real-estate-short-sale.net/short-sale-questions/what-are-my-chances-of-getting-short-sale-home/feed/ 0 How to purchase a short sale before 90 day bid period is up? http://real-estate-short-sale.net/short-sale-questions/how-to-purchase-a-short-sale-before-90-day-bid-period-is-up/ http://real-estate-short-sale.net/short-sale-questions/how-to-purchase-a-short-sale-before-90-day-bid-period-is-up/#comments Sat, 01 Aug 2009 15:44:14 +0000 Unregistered User http://real-estate-short-sale.net/?p=110 How to purchase a short sale before 90 day bid period is up? is a post from: Real Estate Short Sale

]]> Is there anyway to purchase a short sale home before the 90 day bid period is up?

I just found a house I know that I want, but it just went on the market a week ago. According to the terms of the short sale, they allow 90 days for all bids to come in and then accept the highest bid. Is there any loop hole here that can guarantee that I get this house?

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]]> http://real-estate-short-sale.net/short-sale-questions/how-to-purchase-a-short-sale-before-90-day-bid-period-is-up/feed/ 0 How much worse is a foreclosure than a short sale on your credit? http://real-estate-short-sale.net/short-sale-questions/how-much-worse-is-a-foreclosure-than-a-short-sale-on-your-credit/ http://real-estate-short-sale.net/short-sale-questions/how-much-worse-is-a-foreclosure-than-a-short-sale-on-your-credit/#comments Fri, 31 Jul 2009 14:48:41 +0000 Unregistered User http://real-estate-short-sale.net/?p=116 How much worse is a foreclosure than a short sale on your credit? is a post from: Real Estate Short Sale

]]> We are in a position to get approval for  a short sale on our house. We have to choose between a short sale and a foreclosure. What are the individual ramifications for each on our credit? If we take the short sale, are we going to be taxed on the difference in price between our purchase price and our selling price?

How much worse is a foreclosure than a short sale on your credit? is a post from: Real Estate Short Sale

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]]> http://real-estate-short-sale.net/short-sale-questions/how-much-worse-is-a-foreclosure-than-a-short-sale-on-your-credit/feed/ 0 Need some short sale advice http://real-estate-short-sale.net/short-sale-questions/need-some-short-sale-advice/ http://real-estate-short-sale.net/short-sale-questions/need-some-short-sale-advice/#comments Mon, 27 Jul 2009 12:01:44 +0000 Unregistered User http://real-estate-short-sale.net/?p=102 Need some short sale advice is a post from: Real Estate Short Sale

]]> Question regarding Short Sale (Real Estate) need some advice please?

My parents are trying to help my moms brother by purchasing the house as a short sale from my uncle to prevent foreclosure. My parents will buy the house and just rent it out to my uncle. My uncle will cover all the expenses for this.

What are some pro’s and con’s for both parties? My parents for buying the house and my uncle for selling it? How bad does this show on your credit?

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]]> http://real-estate-short-sale.net/short-sale-questions/need-some-short-sale-advice/feed/ 0 What does this statement for short sale mean in real estate ad? http://real-estate-short-sale.net/short-sale-questions/what-does-this-statement-for-short-sale-mean-in-real-estate-ad/ http://real-estate-short-sale.net/short-sale-questions/what-does-this-statement-for-short-sale-mean-in-real-estate-ad/#comments Mon, 27 Jul 2009 04:11:24 +0000 Unregistered User http://real-estate-short-sale.net/?p=103 What does this statement for short sale mean in real estate ad? is a post from: Real Estate Short Sale

]]> It says “Short sale with written approval for this price”. I’m familiar with what a short sale is but wondered why they added “with written approval for this price”.

Also in this situation does the bank take bids like a regular house or does the buyer need to bid for the actual price listed?

Also, if I bid the full asking price can anyone tell me how long it takes to get approval and a contract?

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]]> http://real-estate-short-sale.net/short-sale-questions/what-does-this-statement-for-short-sale-mean-in-real-estate-ad/feed/ 0 How to get real estate short sale to happen? http://real-estate-short-sale.net/short-sale-questions/how-to-get-real-estate-short-sale-to-happen/ http://real-estate-short-sale.net/short-sale-questions/how-to-get-real-estate-short-sale-to-happen/#comments Sun, 26 Jul 2009 04:38:35 +0000 Unregistered User http://real-estate-short-sale.net/?p=92 How to get real estate short sale to happen? is a post from: Real Estate Short Sale

]]> I understand what a short sale is, but how do you get to the point where you owe more than what your house is worth? People have told me that you are not always behind on your mortgages payments when the short sale happens, but how else do you get to that point?

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]]> http://real-estate-short-sale.net/short-sale-questions/how-to-get-real-estate-short-sale-to-happen/feed/ 0 Is buying a home on short sale good or bad? http://real-estate-short-sale.net/short-sale-questions/is-buying-a-home-on-short-sale-good-or-bad/ http://real-estate-short-sale.net/short-sale-questions/is-buying-a-home-on-short-sale-good-or-bad/#comments Sun, 26 Jul 2009 01:06:37 +0000 Unregistered User http://real-estate-short-sale.net/?p=98 Is buying a home on short sale good or bad? is a post from: Real Estate Short Sale

]]> I’ve heard that buying a home on a short sale deal is both a good and a bad thing so I’m just curious what the truth is. I want to know because we’re looking at some homes that are in that short sale mode. And what exactly does short sale mean when buying a home?

Is buying a home on short sale good or bad? is a post from: Real Estate Short Sale

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]]> http://real-estate-short-sale.net/short-sale-questions/is-buying-a-home-on-short-sale-good-or-bad/feed/ 0 Can a short sale hurt my credit? http://real-estate-short-sale.net/short-sale-questions/can-a-short-sale-hurt-my-credit/ http://real-estate-short-sale.net/short-sale-questions/can-a-short-sale-hurt-my-credit/#comments Wed, 22 Jul 2009 03:28:06 +0000 Unregistered User http://real-estate-short-sale.net/?p=86 Can a short sale hurt my credit? is a post from: Real Estate Short Sale

]]> Can a short sale hurt my credit rating? What are the ramifications?

I need to get out of my house because it has become unaffordable. A short sale has been suggested to me. I have been in my house for 1 year and my home value has plummeted about 25K (I live in AZ) so I am not able to refinance. Will a short sale hurt my credit rating? Got any other options?

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]]> http://real-estate-short-sale.net/short-sale-questions/can-a-short-sale-hurt-my-credit/feed/ 1 Foreclosure Investing For Dummies http://real-estate-short-sale.net/short-sale-investing/foreclosure-investing-for-dummies/ http://real-estate-short-sale.net/short-sale-investing/foreclosure-investing-for-dummies/#comments Sun, 19 Jul 2009 20:12:05 +0000 admin http://real-estate-short-sale.net/?p=23 Foreclosure Investing For Dummies is a post from: Real Estate Short Sale

]]> Foreclosure Investing For Dummies (For Dummies (Business & Personal Finance))

With the housing bubble of the past few years bursting and interest rates on the rise, there has been an upsurge in the number of foreclosures across the country, creating many opportunities for profit. But investing in real estate foreclosure and real estate short sales can be a tough job, especially when a negative stigma is attached. How do you make money while preserving your morals and trust?

Foreclosure Investing For Dummies shows you how to invest in foreclosures ethically without being accused of stealing homes from “little old ladies.” This step-by-step guide helps you thoroughly research property, find the best opportunities, purchase foreclosures, and avoid misleading distressed homeowners. This book doesn’t promise quick profits through minimal work, but it will provide you with invaluable information to become a successful investor, including:

  • Identifying opportunities and understanding risks
  • Obtaining information, tools, support, and resources
  • Locating properties prior to foreclosure
  • Assisting homeowners through the foreclosure process
  • Acquiring properties below market value prior to the auction
  • Buying property at an auction, from lending institutions, and government agencies
  • Repairing, renovating, and selling or leasing property

This book provides tips and strategies for refinancing your property and maximizing your profits. It also gives you advice on how to assist homeowners, have them work with you, and common mistakes you should avoid. It’s time to go out and make the most of foreclosure investing, and with Foreclosure Investing For Dummies by your side, your hard work and devotion will bring tons of success!

From the Back Cover
Covers foreclosure rules and regs for all 50 states

Minimize your risks and maximize your return, while assisting homeowners

Want to buy and sell foreclosure properties? This hands-on guide covers all aspects of investing in foreclosures, from identifying potential properties and assessing value to carefully researching and inspecting properties, so you don’t get stuck holding a money pit . . . or even worse, a worthless piece of paper! Discover how to deal with homeowners in preforeclosure, bid for a property, buy bank-owned properties at well below market value — and ultimately sell for maximum profit.

  • Research property titles, mortgages, and deeds
  • Build a strong investment team
  • Obtain financing
  • Network your way to success
  • Avoid common pitfalls
  • Invest with integrity

Buy Foreclosure Investing For Dummies

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]]> http://real-estate-short-sale.net/short-sale-investing/foreclosure-investing-for-dummies/feed/ 0 How will a short sale affect my credit long term? http://real-estate-short-sale.net/short-sale-questions/how-will-a-short-sale-affect-my-credit-long-term/ http://real-estate-short-sale.net/short-sale-questions/how-will-a-short-sale-affect-my-credit-long-term/#comments Sun, 19 Jul 2009 00:08:12 +0000 Unregistered User http://real-estate-short-sale.net/?p=59 How will a short sale affect my credit long term? is a post from: Real Estate Short Sale

]]> I am stuck in a situation in which I am upside down on my home and with a new baby on the way I need to buy a bigger home and also take advantage of the low mortgage rates and cheap home prices, therefore I am leaning towards doing a short sale. Only thing is that before I go forward with it I want to know what long term affect with it have on my credit? If any. Thanks.

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]]> http://real-estate-short-sale.net/short-sale-questions/how-will-a-short-sale-affect-my-credit-long-term/feed/ 0