The most important question to ask a short sale buyer's agent. How to question the buyer's agent to qualify the short sale buyer.
Yes, but...do you use a short sale facilitator?
Of course the REALTOR on your team needs to be a qualified team captain, with the experience to properly guide both buyers and sellers through the transaction. If savvy, they will engage the services of a short sale facilitator to ensure they have the strong team needed for a touchdown. With a contact list and savoir faire that is the stairway to heaven, these can be the ace in a hole every busy agent needs.
The Short Sale Package
Not all situations in which a homeowner cannot (or will not) make their mortgage payments will qualify for a short sale. And where each lender has unique requirements, every short sale situation will require these standard documents (printable, form).
- Seller Worksheet
- Authorization to release information - this document gives the REALTOR® permission to act as your representative and obtain information about your loan from the lender. Please include all lien holders and account numbers - this must be filled out and signed
- Financial Form - list of itemized assets and liabilities
- Hardship Letter
- Two years most W-2’s recent tax returns
- Two months most recent paycheck stubs
- Two months most recent, consecutive bank statements
The lender will use this information to determine if you are experiencing a hardship and meet certain parameters so it's important a complete package is submitted so as to avoid any delays in processing your request.
Foreclosures are declining, right?!
A recent article in the Colorado Springs Gazette reports foreclosures are down. But, are they? The same report states foreclosures are 20% ahead of this time last year. So, where they have decreased over the last couple of months, they are up overall. Sadly, there will never be a 0% foreclosure rate and there have been 538 homeowners over the last four months in some stage of foreclosure and pure capitalism will have it no other way. And where we hope not you, know our experience, certifications and network will serve anyone in this situation well.
A trade name of Norberto Villanueva, the Axiom Real Estate Team at Equity Colorado is a REALTOR member in good standing of the Pikes Peak, Colorado and National Association of REALTORS, holds an Employing Broker level license and is a former REALTIST member of the National Association of Real Estate Brokers. Certified as a Short Sale and Foreclosure Resource (SFR) and a Real Estate Owned (REO) specialist, our focus is win-win-win solutions or none at all, offering expert analysis, acquisition, disposition and specialty finance consultation for retail buyers and sellers as well as private and institutional investors alike.
Contact the Axiom Realty Team at Equity Colorado for all your real estate investment needs by using the contact form found in the lower right of this page.
We are the ART of Real Estate and look forward to serving you.