Sacramento Expert Short Sale Real Estate Agent

Posts Tagged ‘purchasing’

A down hill spiral is inevitable, therefore I often have a lot of sellers asking me whom pays the back taxes I owe, and do I have to pay for you to sell my home as a Short Sale??   Of course I then begin a conversation that will hopefully give the seller more knowledge in which to base a decision on selling the home or just walking away from the mortgage.

There are of course many people that make money on the sale of a Short Sale, just like they would if anyone else was buying or selling a home.  But in the case of a Short Sale the seller does not pay the commissions, or back taxes.  Sellers are always concerned about if they are having to come up with any money at the close of escrow. At the time of the listing agreement I do ask my sellers if they owe for delinquent water,sewer and garbage because the lien holder will not pay this at closing. If it is a large amount this could be an issue. I always ask the seller to keep the utilities on because it is hard to sell property if nothing is on. This also helps when the buyer goes to do their inspections, as they will need to test the water and electric.

Everyone that is involved in the sale of any property or home will make money somehow. 

• Listing Agent, Buyer’s Agent
• The Current Lender ( They avoid the high cost of the foreclosure process )
• Title Companies ( Title Insurance for the seller and buyer)
• The buyers new Lender ( generates new interest income )
• Appraiser’s ( required by the new lender )
• Homeowner Insurance Company ( required by the lender to protect the property )
• Tax Consultants or Attorney’s ( legal advise and tax consultations )
• Buyer ( purchased the home somewhat below market value therefore gaining equity )
• Escrow Company ( processing the legal paperwork )

If you have any questions regarding the possibility of selling your home because you can not make the payments or you have a financial hardship, please contact me and I can hopefully be able to answer any questions you might have.

It never hurts to ask, it only hurts you when you don’t have all the facts or answers you were needing and wish you did.

Terri Wisecarver

Whitman Metropolitan Inc.

Sacramento Real Estate

Well this was one of the easiest short sale yet.  Nice and smooth.  The buyers staying in the game, the bank was easy to work with, seller wanting to close and agents great to work with. This home was located in desired area in Sacramento, Ca.

I was the Short Sale Negotiator for a broker friend of mine on this one. I do this for him as a side job. I worked the file until acceptance, needed an extra 2 day extension on closing, emailed the bank and poof there was the extension.  Done deal.  Happy Buyers, Agents and of course Seller.

On my previous blog about my short sale listing, I received 3 offers in 2 days. I already submitted to the bank the whole package and asked the other 2 agents if they wanted to remain in back up position. Of course they said yes!!

The bank called me on Saturday ( 4 days after submission) to tell me they received the whole package and needed nothing else at this time.  They have already ordered the BPO and assigned a workout specialist to the file. I have heard that this bank is moving faster than they did a year ago, but this is really fast. Awesome is the word. This will really boost Short Sales in the market if the banks can all move this fast. Maybe buyers and their agents will not be so afraid to look at short sale homes.

If you need any help with doing a Short Sale, in Sacramento, Placer, or El Dorado County, please contact me. I am eager to help you in any way possible.

Terri Wisecarver

REALTOR/Short Sales

Another Short Sale Sacramento County

Awaiting a first time Home Buyer is this charming little home with loads of potential.  Lots of hard work done in the Travertine Floors throughout the home. Absolute Black granite tile counters,with black glass backsplash. New dual pane windows give this home a bright and open floor plan. Separate family and living area. Third bedroom to be used as office/den/bedroom. Kitchenaide oven,kenmore dishwasher. Newer roof.  Just add the finishing touches. 

Please feel free to contact me with any questions.

Terri Wisecarver

Whitman Metropolitan Inc.

How much is a home really worth to you and the desire to purchase it?  It  is very important to go out and look at the area around the properties you are considering to make offers on in order to place value on them.  So representing buyers and selling homes in Sacramento you really need to know the areas you are showing homes in. Representing a buyer, you should take into consideration other factors that can place a price on the home.  The desirability for the buyer is the true value here.  I have been in the position where I had found a home for a buyer that they fell in love  in Sacramento, Ca. but after visiting the home many times during different hours of the day is when we all really began to see the issues that the buyers would have problems with.

We have all heard of Location Location Location!!!!  Well this stands true for many reasons.  The first showing of the home was great and the buyers were wanting to right an offer.  I then showed them other homes around the same vicinity with the same amenities, but they kept wanting to compare them to the first home.  We later in the day returned back to the first home they were considering.  This time they noticed that there was a very large family home next door.  The neighbor said hello to myself and the buyers and proceeded to ask my buyers if they were interested in buying the home.  Of course they said yes and this is when the neighbor stated this. Did you know that someone died in the home?

Now of course we did not know this and this did get the brain action working as you could imagine. And of course this should be disclosed to any buyer from the seller if the death occured within the last 3 years.  But we proceeded to look again.  As it seems after returning to the home 3 more times over 2 days my buyers noticed these other factors that played a part in them deciding to not write an offer on the property.

They were a single couple that wanted not so much noise around the home.  Big family next door with about 5 kids played the part.

They noticed the amount of traffic that was going through the neighborhood throughout the times of our viewing.

They noticed the loud music and band set-up in the open garage across the street.

But most of all there was 3 dogs on the other side of the home that would not stop barking at anytime when we were there previewing the home.

So the bottom line is that the buyers decided to go with another home 2 blocks down and walk away from the one they really loved in order to get the piecefull and quietness that they desired.  Of course in this market in Sacramento, we do not usually have the time to waste on purchasing homes in this fashion as the homes seem to go quickly, but the other option would be to do your homework ahead of time. Do some research for the buyers purchasing areas and get to know them before showing homes.  Investigate all that you can for the buyers, which are now your clients.

Desirability is not just the home itself, it also is the location and what surrounds the home that makes it worth purchasing to the buyer.

Desirability is the value and in the eyes of the buyers and not yours.  This sets the price the buyer will be willing to pay. Remember that this holds true to no matter the area or the look of the homes. These things do play a part in the buyers eyes no matter how nice the house is

From high price to low price homes these factors play a part in the buyers price range (payment) and desirability.

Terri Wisecarver

Whitman Metropolitan Inc.

Sacramento, Placer, El Dorado Counties