In Foreclosure? No Problem!
Our team has extensive experience in Short Sales and have successfully processed hundreds of short sales in the recent past.
Reasons to work with us
- You pay no fees up front or at closing. Bank pays all the fees, closing costs, to sell your home when the short sale is approved.
- We have a proven track record.
- In order to start a short sale the bank wants to see an offer, we will write an offer in 24 hours that we can send to the bank.
- In most cases the bank will put in writing that they won't come after the borrower for the losses.
- This will buy you more time in the home.
- Call now for a confidential discussion.
- a short sale looks better on your credit report than a foreclosure.
- we have a list of rental homes to consider.
- we can get you a list of rent to own homes or homes for rent.
- If you start the process with us you can always stop after.
- In most cases I can show you a sample short sale approval letter from your lender.
- Call Now you have nothing to lose but everything to gain.
Are you Facing Foreclosure?
Are you considering A Short Sale?
What is a short sale?
Home sellers should consider a Short Sale when the value of their home is LESS than the amount of their outstanding loans. For example, if your home is worth $220,000 but you have a loan of $280,000 then a short sale is a consideration.
Benefit from Processing with us
- The number one reason why people use us is we get short sale results. We have established relationships with many lenders to expedite the process and we have processed hundreds with banks similar to yours.
- We have relationships with cash buyers. This will allow us to put an offer in immediately. By doing this, we will be able to process the short sale faster. Remember, a bank will not consider a short sale until an offer is made. Bottom line we save you 2 months plus.
- We have relationships with banks. These relationships will allow us to process the short sale quicker and allow us to discount the mortgage deeper.
- In most cases we work with lenders to either waive the deficiency judgment so they won't pursue the homeowner after the sale goes through for the losses.
- We will explain the process thoroughly and show homeowners how to avoid paying the debt forgiveness tax after a short sale goes through.
- We will work with the lender to be sure the homeowner does not have to bring any money to closing. We work with the banks to pay any attorney fees, transfer taxes, property taxes, real estate commissions, 2nd or third mortgages liens.
- Our team is available to discuss this with you and answer any questions you have.
- Were local we will have a representative meet you face to face if you decide that will be best for you.
Why will Banks Consider A Short Sale?
Let's face it the banks for the past 50 years have known that 5-10% of their borrowers will face a hardship (divorce, financial, loss of a job, unexpected medical condition, death, loss in income, job relocation, etc).
While most lenders will not be thrilled at the prospect of a short sale they are acutely aware that a foreclosure is usually a far more time consuming and costly option. In a real estate market where housing values are going down it is in the best interests of the lender to liquidate their problem loans as quickly as possible.
With a short sale a property can be sold and the loan taken off their books fairly quickly. If they pursue a foreclosure they run the risk of the process taking a substantial amount of time during which the value of the property is depreciating.
Also, buyers will tend to write low ball offers when they know that a bank or lending institution owns the property. The property will also be left vacant which can result in vandalism and deterioration. Some owners will even gut the house just before the foreclosure sale as a way to "get back" at the lender. This is illegal but nonetheless happens on occasion.
In addition the banks are not in the property management business. If they foreclose they will have to maintain the lawn, utilities, insurance. And in the end they will have to list the home and pay a commission anyway.
So, you can see why a lender might want to go the short sale route and get the loan off of their books with minimal hassle.
Please fill out the form on top right or call us now for a free private confidential call. There is no cost to you.
We get results and you will be glad you did.
To Get Started Simply click the Get an offer Link below. Remember there is no obligation on your part and there is no cost to you to simply get an offer. Or if you prefer give us a call at (866) 916-9660
How the Short Sale Process Works
Basically after discussing your personal situation and answering any questions most lenders require (which we will provide) a hardship letter, 2 months of bank statements, 2 most recent paystubs & 2 prior year tax returns (only if you filed). We work with them to submit these items with an offer. Typically they will assign a short sale negotiator within 30 days and order an appraisal which they then use to determine how much to accept. In the mean time they typically hold off on the foreclosure until a decision is made. Once they accept the short sale and the offer they then will fax a short sale approval stating the conditions. Typically they pay all the closing costs, they accept less than what is owed, they stipulate also that they won't pursue the borrower for any losses (called a deficiency judgment).
5 Things Most People Don't Know about Short Sales
- Banks will accept less than you owe on the mortgage which is what a short sale is.
- Banks will put in writing that they will not come after you for the losses referred to as a deficiency judgment
- Banks will pay all the closing costs in most cases to include any real estate commissions, transfer taxes, hoa/condo fees, attorney / settlement agent fees, liens for taxes and water bills, and other liens on the home for example credit cards, etc (usually lien holders will have to accept a discount).
- Banks will often pay relocation assistance to sellers
You will typically be able to buy another home if you wish in 2 – 3 years from the sale of your short sale home.
Solaire Investment Group
9420 Annapolis Rd #206 Lanham, MD 20706
Phone: (866) 916-9660