Short Sale Simplexity

short sale processShort sale can be win-win-win for sellers, buyers, and lenders.  However, it is not an option that homeowners should pursue lightly without knowledgable and dedicated professionals on their side.

While the concept of first getting a purchase offer and then getting a bank approval is simple, the actual execution of a short sale is mindboglingly inconsistent and inefficient.  This is understandable for an infant niche that is overwhelmed and rapidly changing.  However, to a homeowner who does not live and breath this niche, it can be extremely frustrating and disheartening.  Many simply give up and let their home go into foreclosure…please don’t.

Let me unravel the mystery by exposing some of the complexities behind a short sale transaction.  It is not atypical to have more than a dozen people involved in a single short sale transaction with only one mortgage and no other judgments or liens.  Plus, there are very little standardization across the board in terms of investor rules, investment vehicles, loan products, servicer processes, and mortgage insurance company guidelines.  Then, there are ongoing ownership transfers in both mortgage notes and servicing rights.  All of these complexities are normally under control in the capable hands of the financial institutions.

The current nightmare is caused by the compounding effect of the complexity and the overwhelming surge in mortgage delinquency due to recent housing market slump.  In light of the surge, lenders/servicers have outsourced, hired, and added new systems in such a rapid clip that integration and training are lagging so far behind, leading to much of the inefficiency and inconsistency.

It is this very reason that a homeowner needs professional assistance now more than ever to navigate the maze and make it through to the other end. Don’t despair, you’ve done the toughest part and found me!  Now all you need to do is contact MD Short Sale Real Estate and let me take care of it.  At last, something simple!

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CHOOSE YOUR LISTING AGENT CAREFULLY…EXPERIENCE LEVEL VARIES WIDELY IN SHORT SALE

Many agents portray themselves as short sale specialists or experts regardless if they have real experience in short sales or not.  With your financial future on the line, it is too important to just take their word for it.  Please ask the agent for proof of the number of short sale listings that he/she has previously closed.  Hiring a listing agent with little to no real short sale experience is like hiring a bicycle repair person for major auto overhaul. 

Proof can simply be MLS printouts of all of their closed short sale listings over the past twelve months.  Make sure to look for the number of closed short sale deals, as active or under contract short sale listings speak little volume to the agent’s ability to get the job done.  Also make sure he/she is the listing agent on those closed short sale deals and not the buyer’s agent, as the burden of obtain short sale approval resides with the listing agent side and not the buyer agent side.

YOUR FINANCIAL FUTURE IS ON THE LINE…DON’T TAKE THEIR WORD FOR IT, ASK FOR PROOF!

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WE VALUE YOUR BUSINESS & APPRECIATE YOUR REFERRALS

Our reputation is of the upmost importance to us because we generate a significant portion of our leads from word of mouth and Realtor referrals.  I hope that we have exceeded your expectation in handling your short sale transaction.  Feel free to browse our sample short sale success cases and see how we helped other clients obtain mortgage relief.  We greatly appreciate referrals from our past clients and we offer generous referral commission splits to fellow Realtors. You can rest assure that we will take great care of your referrals.

Execuhome-Realty-SIDE-AI_smallerPlease feel free to contact my broker ExecuHome Realty should you have any questions or concerns that I can not address.

Recent Seller Testimonial…

Lvg Rm w FPI was in dire financial straights and could no longer pay my mortgage. I was facing foreclosure.  I called Dan Grady at Execuhome to inquire about the short sale process.  Dan was extremely knowledgeable and walked me through the process.   Not only did Dan aggressively market my home and secure an offer, he went “above and beyond” to make sure that the closing went off without a hitch.  

Ivy Loui at Acacia Loss Mitigation handled the paperwork and negotiations with my mortgage company.  She too was extremely knowledgeable and was able to tell me exactly what to expect during negotiations.  She answered all my (many) questions along the way.  Most importantly, she was able to negotiate a full release with no deficiency from my mortgage company! 

I highly recommend Dan at Execuhome and Ivy at Acacia Loss Mitigation.  Thanks to their professionalism and dedication my short sale was a smooth process and they made this stressful time a little easier

- Vincent R. (Short Sale Home Owner)

 

9861 Bon HavenMy experience with your company was very pleasant. For someone having to deal with losing their home, it could be an embarassing situation…but working with you and your team of professionals made my circumstance seemed easy.

My burdens were lifted when I first met you and you explained all that your business/services offered. You were very personable which made me very comfortable with working with you. You posted my home to your websites; made contact with other Realtors; showed my home via virtual tours & pictures. Before I could really grasped what was happening I was sitting at the settlement table with the couple who were purchasing my home.

You did it all within 45 days of listing it and I incurred zero out of pocket expenses!  The whole experience make me want to refer anyone who was either in crisis with their home or someone just looking for a new home to you for assistance.  I couldn’t be more satisfied with the services you and your team provided.

As soon as I am financially stable I will definitely be in contact with you to begin my search for another home.  Thanks again for your exceptional service!

- Paul D. (Short Sale Home Owner)

Realtor & Buyer Testimonial…

Millie LloydThe Broker of Execuhome Realty referred Ivy Loui, of Acacia Loss Mitigation Services, to me.  At the time of the referral I had exhausted my ability to assist a client that had been trying to get an approval to sell her home through the short sale process.

 The process began in June 2009 when I received an offer for the property that had already been listed for sale for over 5 months. The property had a 1st and 2nd mortgage. I was able to obtain the short sale approval from the 1st mortgage, where settlement must occur prior to 10/15/09.  With the clocking ticking, it appeared that negotiations were going to end without approval from the 2nd mortgage.  The 2nd mortgage holder refuses to budge over a small difference of the payoff from the 1st mortgage and required the Seller to sign a $10,000 promissory note. It was at this point, frustrated and not willing to see my client not get approved for the short sale that I turned to Ivy for help on 9/26/09.

Ivy, clearly well versed in the process, stepped in and took over the negotiations. She has an in-depth knowledge of the loss mitigation process and understands the intricate details of how lenders respond in these critical situations. She was confident and patient in her approach, in what seemed to me to be an impossible task. Most importantly, with both me and the seller as her clients, she efficiently managed the remainder of the details required to bring the negotiations to a successful close. Ivy was able to accomplish all of this and allow the deal to reach settlement on 10/14/09, along with the waiver of the requirement that the Seller sign a $10,000 promissory note.

Ivy interfaced with the Seller helping her to understand what was required, getting her to comply immediately and with me explaining through-out the process the correct steps, which helped me better understand the correct way to assist a customer in this situation.  Ivy is a real professional, and I would refer to anyone needing loss mitigation services.

- Millie Lloyd (Realtor & Associate Broker)

 

Keith CaseyI’ve really enjoyed working with Dan.  He has went above and beyond taking videos of the properties being looked at and posting them on different websites so I was able to view them over internet in Iraq.  He was also very patient with us, helping us work through any problems that came up, and several did.  Most importantly always answering the phone throughout the process no matter where he was and what he had going on.  Any questions we may have had, if he did not know, he would find out for us.  It has been a pleasure working with him, and we would most definitely recommend him to anyone who needs a Realtor and be more than happy to use him in the future myself.

- Keith C. (First Time Home Buyer)