“I have had my house for sale for a little while, but it hasn’t sold. No buyers have come to look at it. At first I thought the price was fair.
But, now that no one has come to see the home, I am beginning to realize that I am upside down. My realtor hasn’t talked to me about a short sale. What should I do?” Jennifer asked.
Here is what we recommended to her. First, talk to your current agent about a short sale. The might be uncomfortable with bringing it up.
Short sales are a sensitive issue. Some people get offended when you ask them about a short sale. It doesn’t look like that is the case with you.
Tell your agent that you think you might be upside down. Ask them what they think they can realistically sell the house for in today’s market.
Then, ask them for a “Net Sheet.” This is a sheet that details all of the costs and fees associated with selling a home.
The fees and costs are subtracted from the sales price to give you the net amount you will receive from the sale. Compare that number with your mortgage payoff.
If it is less than what you owe your lender, then you will need to consider a short sale. Ask your agent if they can handle your short sale.
If not, then you may need to hire someone else. Short sales are a lot more complex than a normal real estate transaction.
Make sure the person you interview has closed short sales in the past and knows what they are doing.
Ask them how the short sale process works. Have them explain it to you. This will help you determine if that person can do the job for you. Thinking about a short sale?
I can help you short sale your property and get back on your feet. Send me an e-mail at email@example.com. I will contact you for a free consultation.
When we talk, I will explain how the process works in detail and answer any questions you may have. Or, if you prefer, you can call me at (312) 953-6725
Discover how other sellers successfully completed a short sale and request a free consultation by clicking here.
Thinking about a loan modification? Our Chicago loan modification kit has the instructions you will need to get a loan modification approved with your bank. Click here to request a copy.
Thanks for reading this, Phillip Buoscio.
Phillip is a Real Estate Agent at Better Living Realty – Buoscio Brokerage, Inc.. Chicago Short Sales Realtor:
Phone: (312) 953-6725. firstname.lastname@example.org.
Phil Buoscio specializes in loan modifications and short sales in Chicago Illinois. Chicago Loan Modification Help. Chicago Short Sales. Chicago Short Sale Realtor. Chicago IL Short Sales. Chicago Realtor.
Copyright 2012 SFI Marketing Institute, LLC. All Rights Reserved.
Phillip Buoscio, Better Living Realty – Buoscio Brokerage, Inc., and the Stop Foreclosure Institute are not affiliated in any way, shape, or form with the government. Our services have not been reviewed or endorse by the government or your lender. Most lenders willingly work with agents on short sales. Why?
Because most short sales are beneficial to a lender. If you accept our offer to help you on a short sale, your lender may not agree to a short sale or to modify your loan. We do offer a loan modification kit.
However, the likelihood of negotiating a modification is like everything else in life. It takes work and persistence to convince your lender to modify your loan. No matter what you or we do, your lender may not approve a loan modification.
We do not recommend that you stop paying your mortgage, because this will cause damage to your credit and could cause you to lose your home. Because we know avoiding foreclosure is so important to any homeowner, we recommend that you speak with the appropriate legal or tax advisor before making any decision.
This is not intended as legal, technical, or tax advice. Please speak with a licensed professional before making any decision. Information is deemed reliable but not guaranteed as of the date of writing.
You have the option to reject a short sale or loan modification from your lender if it does not meet your approval. If you decide not to go thru with the short sale, then you do not have to pay us our fee. We normally make a real estate sales commission for helping you on a short sale.
The views expressed here are Phillip’s personal views and do not reflect the views of Better Living Realty – Buoscio Brokerage, Inc..
This information on Why Won’t My Realtor Discuss A Chicago Short Sale? is provided as a courtesy to our viewers to help them make informed decisions.