Category: Short Sale & Loan Advice.
Tags: buy a home in Irvine CA, Finance Irvine CA, Investment Irvine CA, irvine ca real estate, prepare my home irvine ca, real estate irvine ca, short sale homes irvine ca, Short sales Irvine CA, woodbridge irvine ca
2 Points Today!
#1 Today I met a broker from BofA at an agent open house in (Woodbridge) Irvine. His name is Dan Coleman and he is very knowledgeable on Short Sale process and helping agents that represent buyers pursuing these types of properties. If planning to sell short, there are many key factors that should be addressed before listing your home for sale . Itis very important that your listing broker has prepared all of the documentation you will need to successfully market and sell your home within the guidelines that your bank will accept. It is also important the many questions and concerns have been discussed with the lien holders and that acceptable figures have been determined. As brokers and agents we are finding more and more homes on the market that are trying to sell short and the listing agent has not taken the time to take the seller through the process of preparation. This oversight and negligence can cause hardship on all interested buyers, the seller, the buyers agent and the lien holders.
Whether you are on the buy side of a short sale or on the sell side, make sure the agents representing the seller are well prepared and educated on the process and that they are detailed and organized. If the listing agent is not following the guidelines then the parties involved may be in for a very lengthy and possibly “never” closing sale!
On another note….
#2 If you are a first time home buyer or simply need a refresher on the loan process, check out this website!
Great information to help a buyer start the loan process in the beginning stages of buying a home. With lender and underwriting guidelines being strictly enforced buyers today need to really be in tune with their expectations of how much home they can afford. Rates are changing daily and economic times have tightened the lending belts! Enjoy the above link and please contact me for further information regarding the Short Sale Process or the Loan Process.
Thank you ~ Lisa