SHORT SALES – GET ASSISTANCE FROM A CERTIFIED SHORT SALE EXPERT (CDPE)

Clark County has been one of the hardest hit areas with regards to declining market values.  Coupled with unemployment, layoffs and recession problems, we have seen lots of loss of properties through foreclosure.

Options are available.  One route to consider is the request of a SHORT SALE.

Definition of a short sale: a sale of real estate in which the sale proceeds fall short (below) of the balance owed on the property’s loan.   It occurs when a borrower cannot pay the mortgage loan on their property, but the lender decides that selling the property at a moderate loss is better than pressing the borrower.

The key to short sales are understanding the process, ramifications and communicating with lenders in the most effective way possible.

I am honored to be part of an elite few of agents that are specially trained to work with distressed properties. From initiating short sale package to negotiations and succesful closing, it is a process that I have been effectively trained by attaining my CDPE Designation (certified Distressed Property Expert).

Short sales require special attention and care. Each bank has a particular method in which to submit short sale application / documentation.  This is a typical list of requirements when submitting application: bank statements, last two paycheck stubs (if any), last 2 years tax returns, reason for hardship (inability to continue to pay for property).

I have the experience and know-how when it comes to negotiating short sales with bank — with most fees being paid through proceeds on sale. You have the option of consulting with legal counsel and/or tax accountant should you have any questions concerning other ramifications and concerns.

Note that timelines and requirements have changed!  HAFA requirements have allowed more distressed sellers to qualify for government sponsored program.   If you did not qualify before there could be a chance that you now qualify!

Banks have also expanded their in house streamlined short sale programs to further speed up a process that has long been considered a slow paced task.

Summary: EACH SHORT SALE IS UNIQUE.  CALL ME TO DISCUSS YOUR SPECIAL NEEDS.    REMEMBER THE BANK PAYS FOR OUR SERVICES! WHY NOT GET THE BEST REPRESENTATION POSSIBLE.

William McKnight
REALTOR®
William@sweethomelv.com
702-328-3010