tag:blogger.com,1999:blog-16154228969235824172011-12-15T21:36:17.685-06:00Welcome to the Short Sales Blog of the Twin cities! This blog provides important information about selling a home as a Short Sale and how to prevent the foreclosure notice. This blog is affiliated with the planetblogging.com network!Editornoreply@blogger.comBlogger21100tag:blogger.com,1999:blog-1615422896923582417.post-64812179710148485372009-12-03T16:59:00.003-06:002009-12-03T17:13:17.298-06:00<div style="text-align: center;">A <a href="http://shortsalesblog.blogspot.com/">short sale</a> occurs when your home is sold for less than what you actually owe on the home. If the negotiated short sale price is close to the current market value of the home, the lending company<br /></div><div style="text-align: center;">may allow a short sale to occur.<br /></div><div style="text-align: center;"><br /></div><div style="text-align: center;">Instead of falling victim to foreclosure and surrendering your home, a short sale allows you to make a deal with your lender so you can avoid the foreclosure process.<br /></div><div style="text-align: center;"><br /></div><div style="text-align: center;">Through the <a href="http://valuemn.com/">short sale</a> negotiating process you’re able to sell your home without paying the bank the difference that is owed. You will not have to forfeit your property and you do not need to worry<br />about your credit score taking a big hit!<br /></div><div style="text-align: center;"><br /></div><div style="text-align: center;">It is important to know that a <a href="http://shortsalesblog.blogspot.com/">short sale</a> process can take some time and it may be a bit confusing. However, with our team of <a href="http://valuemn.com/">short sale specialists</a> we’re confident that we’ll make the process as<br />seamless and pain free as possible!<br /></div><div style="text-align: center;"><br /></div><div style="text-align: center;"><strong><span style="color: #b45f06; font-size: large;">The Process........</span></strong><br /></div><div style="text-align: center;"><br /></div><div style="text-align: center;">A purchase agreement will be completed that details the short sale that the lender will need to approve.<br /></div><div style="text-align: center;"><br /></div><div style="text-align: center;">The home owner will need to write a letter outlining their financial hardship. They’ll need to include bank statements, medical bills, pay receipts or termination letters. Basically, you’ll need to<br />demonstrate that you're in a financial crisis.<br /></div><div style="text-align: center;"><br /></div><div style="text-align: center;">After the purchase agreement has been written and letters have been sent to the lending company they will arrange for your home to be appraised. This appraisal will be done by the use of a BPO (Broker Price Opinion). This will provide the the lender with the current market value of the home so<br />they're prepared to make a decision on your <a href="http://shortsalesblog.blogspot.com/">short sale</a>. This process may take several weeks.<br /></div><div style="text-align: center;"><br /></div><div style="text-align: center;">Once the BPO has been forwarded, the lending company and the real estate agent will negotiate the terms to see if a short sale is possible. During this time the home owner and potential buyer have to remain patient and waiting for the lender’s decision. This can also take several weeks.<br /></div><div style="text-align: center;"><br /></div><div style="text-align: center;">If the <a href="http://shortsalesblog.blogspot.com/">short sale</a> is approved, the transaction will go through like any other real estate transaction.<br /></div><div style="text-align: center;"><br /></div><div style="text-align: center;"><br /></div><div style="text-align: center;"><strong><span style="color: #b45f06; font-size: large;">We Can Help!</span></strong><br /></div><div style="text-align: center;"><br /></div><div style="text-align: center;">Call our Short Sale Team Today!<br /></div><div style="text-align: center;"><br /></div><div style="text-align: center;"><a href="http://valuemn.com/">Value Real Estate Services, LLC<br />The Carlson Team</a><br /><br /><strong><span style="color: #b45f06; font-size: large;">612.245.9898</span></strong><br /></div><div style="text-align: center;"><br /></div><div style="text-align: center;"><br /></div><br /><div align="center"><br /></div><div class="blogger-post-footer"><img width='1' height='1' src='https://blogger.googleusercontent.com/tracker/1615422896923582417-6481217971014848537?l=shortsalesblog.blogspot.com' alt='' /></div>Editornoreply@blogger.com0tag:blogger.com,1999:blog-1615422896923582417.post-3766086959795003042009-12-03T16:48:00.004-06:002009-12-07T12:46:49.512-06:00Welcome to the <a href="http://shortsalesblog.blogspot.com/">Short Sales Blog</a> of the <a href="http://blogtwincities.blogspot.com/">Twin Cities</a>! This blog provides important information about selling a home as a "Short Sale" and&nbsp;preventing the foreclosure notice. This blog is affiliated with the <a href="http://planetblogging.com/">PlanetBlogging.com</a> Network!<div class="blogger-post-footer"><img width='1' height='1' src='https://blogger.googleusercontent.com/tracker/1615422896923582417-376608695979500304?l=shortsalesblog.blogspot.com' alt='' /></div>Editornoreply@blogger.com0