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How to handle processing a short sale with a second mortgage or HELOC (home equity line of credit). Often, sellers will have a second mortgage or home equity line of credit in addition to a first lien position mortgage. You will have to clear all liens off title to transfer the property and close the

HOW TO PROCESS YOUR FHA SHORT SALE! FHA has their own short sale program called the PFS (pre-foreclosure sale program). While the general short sale process is similar to others, FHA has a few tweaks you’ll want to be aware of. FHA SHORT SALE TIPS MARKETINGFHA requires a 14 day marketing time at appraised price or

From short sale approval to closing! You’ve done all the work and gotten the short sale approval letter! Awesome! Now it’s time to tie up all the loose ends and get this sale closed! You’ll usually get 30 days from approval to close. If you set the expectations properly from the get go the rest of the

Your short sale listing is now under contract, and it’s time to get the short sale approval from the lender!Steps to the short sale approval process! Gather your Documents! 01 You will need to submit lender required financial documents, your listing agreement, the sale contract, buyer’s proof of funds and an estimated settlement statement. It’s

GET YOUR SHORT SALE LISTING UNDER CONTRACT!So you have an offer for your short sale listing!  Here is where the confusion often begins. Many uninformed agents believe that the lender is a principal in the transaction or they have some responsibility to the lender, but you in fact do not have any responsibility or fiduciary duty

How to list your short sale and get it set up for success! step 1 Price it right and get it on market!I usually list my short sales just under market value as they are a headache for buyers, and I want them to sell fairly quickly. There is never a reason to price a

How to master your short sale listing appointment!So you qualified the seller, and now you are at their house for the listing appointment!Congrats on getting this far! The good news is, if you had a solid consultation call, you won’t need to sell them on you any further, or negotiate about commission or price. You

How to qualify a prospect short seller.So you found a prospect seller.  No matter the source of the lead, it’s time to qualify the seller. Just because they want to sell, does not mean you necessarily want to get involved.Short sales are a lot of extra work, and will take at least 4-5 months of