Know Your Short Sales Stuff
March 27th, 2010 | 
Author: I have recently been contacted in regards to how I seem to get my Short Sale’s accepted by the banks with out waiting for months and months. Well just to let you know, I have learned on my own through trial and error. Even now the banks I have worked with in the past are changing their instructions on submitting documention and what they require in a short sale package. Now the lenders have their own packages set up for you and REQUIRE you to use theirs when submitting a short sale package to them. This can save at least 4 days after submission of the Short Sale package.
So as you can see, I am still learning everyday. Communication is the key to every Short Sale including but not limited to the lender (lien holder) but also the seller and of course the Agent that submits an offer to purchase on your listing. If there is not a good communication link with the buyers agent then most likely you will loose that buyer and have to start the process over when you find out the buyer is no longer there. Now some of this blame falls on the agents out there that are writing offers for buyers on short sales, some agents dont like short sales at all, wont write offers on them for their buyers, or just dont care enough to keep in contact with the listing agent after submission of the offer to you.
Buyers, make sure the agent that you choose to represent you has YOUR utmost interest in this transaction. It is also your responsiblity to keep in touch with your agent in regards to your offer. If you dont hear from your agent at least once a week, then I would suggest that you look for another REALTOR to represent you.
The market has been increasing in short sales, so buyer beware that you should know all the options available to you, the possible length and the process on submitting an offer to purchase on a short sale. Make sure your Agent representing you is able to answer any questions you may have.
Homebuyers Assistance is back! Citrus Heights, Ca
The City of Citrus Heights located in Sacramento County has opened up the Down Payment Assistance Program once again. This program will help first time home buyers get assistance with their down payment through a low interest loan, and possibly help to finance part of the buyers down payment. Please visit their website for more information. This is a first come first serve basis. You will need to qualify for this program and there are certain quidelines.
If you are looking to buy a home in Citrus Heights, Ca and need help with the down payment, I would suggest visiting the website above. If you have any questions regarding purchasing a home, please feel free to contact me anytime.
Desirable Listing in Folsom, Ca
NOT A SHORT SALE OR REO
Desirable Parkway home.4bd,2bth home close to park,trails. Butlers pantry, prewired in living area for surround sound. Beautiful colored stamp concrete backyard with fountain,including side yards. Huge walk in closet master bathroom, formal dining area,computer desk area,wired for cable in garage, laundry area gas or electric. Epoxy flooring in garage.
Visit my website and view my listings page
Terri Wisecarver
Why use a Realtor
Use a Real Estate Professional
The purchase of a home is one of the most complex, high-risk, and expensive
transactions most people will ever go through, yet approximately 40 to 50 percent of
home buyers go to the closing table without a representative or advocate on their side.
This startling research performed in separate studies by the National Association of
REALTORS® and the National Association of Exclusive Buyer’s Agents, shows that
many buyers do not understand the importance of having an advocate. Without
someone representing their interests, how will these buyers ever know if they found the
right home at the right price?
Why should you hire a REALTOR®? Here are ten good reasons why you as a buyer
need the services of a real estate professional:
1. Realtors Are Real Estate Specialists.
Only a member of the National Association of REALTORS® can be called a
REALTOR®. The association provides advanced educational opportunities to its
members, enabling them to offer accredited sub-specialties such as buyer’s
representation (ABR), residential real estate expertise (CRS), or Internet readiness (e-
PRO) to the public. Many excellent REALTORS® do not have extra certifications and
designations, but if you should notice letters next to an agent’s name, be sure to inquire
about its meaning. For their own reasons, many real estate professionals choose not to
join the professional association. If you choose to work with an agent who is not a
REALTOR®, ask about the agent’s experience and specialties.
2. REALTORS® Lower Your Risk.
When you have a REALTOR® as an advocate, you share some of the risk of home
buying. Otherwise, it’s buyer beware. You are paying the agent to assist you, advise you,
and help you navigate the transaction legally and safely. Your agent will make sure you
take appropriate steps to protect yourself. Incredibly, many states do not have laws or
regulatory bodies in place that protect all aspects of home buying. Only 20 states
currently license or certify home inspectors, for example. Further, these and other
professionals are only liable in civil suits for the amount of their fees, not for any costs
incurred by the buyer for problems or repairs that were undetected before the closing. If
your agent suggests that you get a structural inspection, do so for your own protection.
She or he will know how an inspection should be performed and will attend the
inspection alongside you.
3. REALTORS® Work For You At Their Own Risk.
It is hard to name any other profession whose members work on a contingency basis.
Even attorneys charge by the hour except for some high-risk lawsuits. You don’t typically
pay for any services up front with an agent. That means your agent incurs the costs of
doing business on your behalf until you find and close your home. Therefore, it’s in your
agent’s best interest to work quickly, diligently, and use all his or her resources to help
you meet your goals. Some agents will ask you to sign a buyer’s representation
agreement, which allows him or her to represent your interests. Be sure to ask what the
advantages are, and what your release options are. Interview several agents before
making your choice and compare their representation styles. Make sure you understand
how the agent you choose will work with you, according to the laws and regulations of
your state.
4. Realtors Understand The Current Market.
Real estate professionals have house-by-house, street-by-street, and market-by-market
knowledge. Their experience is invaluable and can’t be learned overnight. REALTORS®
who have weathered the pendulum swing between buyers’ markets and sellers’ markets
know that the real estate market can turn abruptly. Rising and falling interest rates affect
the number of available homes for sale and their prices within weeks or days. All it takes
is the entrance or exit of a major employer, and thousands of homes in a neighborhood
can be affected. As neighborhood experts, experienced brokers and agents can help
you with home buying strategies and proposals that will get the price and terms you
want.
5. REALTORS® Have Inventory.
Do you want to find a home quickly? With a REALTOR® by your side, you will.
According to The National Association of Realtors, over four-fifths of existing homes in
the United States are represented by real estate brokers. So are 70 percent of new
homebuilders and their products, according to NewHomeNetwork.com. REALTORS®
cooperate with each other through an organization called the Multiple Listing Service
(MLS). The MLS has the current broker-represented properties for sale in its database.
Your agent can also show you homes outside of the MLS inventory, including for-saleby-
owner homes, new builder homes, and institution-operated homes. However, no
Realtor can be expected to show you this additional inventory without a representation
agreement and an assurance of being paid at closing.
6. REALTORS® Have Up-to-the-Minute Information.
MLS data entry can take from one to 10 days, depending on the listing agent, his or her
broker, and the MLS. By the time the home is posted on the Internet, it could already be
sold. Clever agents don’t wait that long to find a home for their buyers; they network with
each other. Your agent will tell other agents about you and your wish list in exchange for
information about upcoming homes for sale. That’s how many homes are bought and
sold in a hot seller’s market, without a sign ever going into the yard. If you want to be the
buyer positioned to make first and best offers on these homes, hire an agent.
7. REALTORS® Understand The Complexity Of The Transaction.
Less than a decade ago, a home could be bought with a two-page contract. Now
consumer-mandated seller’s disclosures, environmental and structural reports, and other
liabilities have turned the home transfer into a complicated minefield. REALTORS® work
with contracts daily, and can fully understand which points are harmful and beneficial to
you. From helping you make a reasonable offer, to providing for the discovery and
disclosure of material facts, your agent can also interpret information for you. If you
found out the neighbor next door to the house you are buying just built a new fence,
what does that mean? You won’t have to replace the fence on that side for a long time.
To your agent, it means something else. She or he will quickly get a survey ordered, to
assure that the new fence doesn’t encroach on your new property.
8. REALTORS® Work For You…And The Transaction.
Your agent not only represents your interests but also works on behalf of the transaction.
Does that seem like a conflict of interest? It isn’t. Buyers and sellers are natural
adversaries. You want to buy for the least price, and the seller wants the best price.
Agents must be skilled negotiators to keep bargaining chips from turning into dealbreakers.
As the buyer, remember that you are the one in control. You can instruct your
agent how far to go in negotiations on your behalf. One day, you’ll be glad your agent
talked you out of walking away because the seller wouldn’t leave the chandelier.
9. REALTORS® Are Homeowner Advocates.
Do you like the idea of deducting your mortgage interest from your income tax? Paying
no capital gains when you sell your home up to $250,000 if you are single and $500,000
if you are married? If so, you can thank the only lobbying group in the nation that looks
out for the interests of homeowners - The National Association of REALTORS®. Every
year, the REALTOR® PAC perches on Capitol Hill and swoops down on legislators who
try to overturn these generous government-sponsored homeowner benefits. The result is
well worth it. These initiatives keep housing more affordable, enabling more buyers than
ever before to move into a home of their own. Thanks in part to REALTORS®, more
than 67 percent of the population are enjoying the benefits of owning a home.
One of the greatest endorsements you have for using the services of a Realtor is from
your lender. Lenders are willing to finance agent commissions for buyers in the
mortgage loan. That should tell you how important it is that you get proper
representation. Many lenders agree you may get a better price for your home and better
terms by having an advocate. Put a Realtor to work for you today.
twre.info@gmail.com
your dreams
Posted in Real Estate, Tips | 
Tags: agent, fsbo, realtor, sacramento real estate, selling, short sale, terri wisecarver | 
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