Since 2007 Jenn has been successful in guiding her clients from uncertainty to clarity on how to complete a short sale. She has valuable advice to pass along along with concrete wins for her clients.
A short sale is a privilege, not a right. Don’t make assumptions. Get the facts and hire a certified short sale specialist to manage your short sale. All consultations are free & confidential with Jenn.
- The worst thing any homeowner in financial distress can do is to stick their head in the sand or in the clouds and hope that the home and loan issue will just go away. It won’t.
- If you have muttered, “We are letting the house go”, “The bank will take it back”, “It’s too stressful”, “But we have money in our savings” or “The bankruptcy will take care of everything”, then you do not have all the facts.
- “Letting the home go” is not a strategy nor a simple process. It is forfeiting your rights and allowing an already stressful situation to linger verse cutting it off.
- The nightmare of nasty calls, tons of mail, processors at your door, the looming “foreclosure” on your credit, the stress of not knowing when it will be over can be addressed head on with less effort than you might imagine with a true specialist by your side.
- Just because you started or completed a bankruptcy does not mean the clock started to begin ticking on when you may qualify on a loan to buy another home. Learn why.
- There is no cost or out of pocket expense for the seller. All commission is negotiated as part of the short sale.
“It is possible to successfully manage a short sale, and
begin rebuilding your life.”
Talk to Jenn about Short Sales today!
Jenn’s Role In A Short Sale
Determine the Type of Short Sale
There are many types of short sales, from Fannie Mae HAFAs to regular, non-GSE HAFAs to a traditional short sale, and a few more in between.
Manage the Paperwork
Gathers the required paperwork and submits the short sale package to the bank. Sometimes agents outsource this part of the process or they might hire a third-party to negotiate the short sale.
Price the Short Sale
The price needs to be attractive enough to entice a buyer to wait for short sale approval, but high enough to satisfy the bank’s Broker Price Opinion (BPO – the bank’s requested assessment of the Fair Market Value of the home).
Put the Home on the Market
The agent must submit all offers received to the seller. Some offers will be lowball offers because buyers don’t know any better.
Negotiate the Short Sale
Sometimes sellers will hire a lawyer to do the short sale, but often it’s the agent who negotiates with the bank on behalf of the seller.
Submit the Short Sale Approval Letter to the Seller
Most sellers want a release of liability and no deficiency to do a short sale. State laws tend to govern the terms in the approval letters. Note: Sellers should always get legal and tax advice before completing a short sale.