WHAT IS A SHORT SALE?

A short sale is when you need to sell your home but the amount you can sell for with all the selling costs is less than the amount due to your lender.
Foreclosures and short sale situations happen to people from all walks of life, from first time home buyers who did not fully understand the loan product they chose, Homeowners who got caught up in arm loans, homeowners who were taken advantage of by predatory lenders, people that have gone through or are going through divorce, families that have had job changes or losses, to other situations out of homeowners control. There are many reasons, but rest assured there is no reason to feel ashamed or embarrassed. We are here to help.


WHY USE THE TODD SWANSON TEAM?

First of all a Seller cannot negotiate their own short sale, they must use a third party. We handle the complex sale and negotiations with the lender with a goal of a solution that is acceptable to all parties involved. In general the Lender will receive more money from a short sale than to take the home through foreclosure because they are avoiding all their legal costs. We provide a free market analysis of your home and discuss your options. After you agree to work with us we take control of the process and will be your advocate through the process. We also work with credit repair professionals to get your credit back on track after the short sale. We provide complete discretion for you through the entire process.


WHAT ARE MY OPTIONS?

1) sell your home and bring enough money to closing to cover the difference that is owed
2) Do nothing and the bank will take the home through the foreclosure process
3) Hire a third party to negotiate a short sale on your behalf


WHAT DO YOU DO?

1) We lost your property for what the market will bear
2) We receive offers and review them with you and pick the highest and best offer
3) We negotiate with the lender on your behalf
4) We strive to have the bank pay your closing costs and our commission at closing
5) We bring the transaction to closing so you can move on to the next stage of your life


DO I HAVE TO HAVE LATE PAYMENTS TO DO A SHORT SALE?

No, we will negotiate with your lender for a short sale even if you are not late on your payments. I may help your credit if you never miss a payment. If you go through a short sale and make your payments the lender may just show the short sale on your credit as a settlement without any late payments.


HOW LONG DOES A SHORT SALE TAKE?

First off there is nothing short about a short sale. The process can take form two to ten months


WHY WOULD MY LENDER ACCEPT A SHORT SALE?

To be brief it will save them money to do a short sale rather than a foreclosure because they save time and all the fees of foreclosing


WILL I HAVE TO PAY TAXES ON A SHORT SALE?

If the home is your primary residence no, because of the mortgage forgiveness debt relief act of 2007 HR3648. However property taxes will have to be paid but may be negotiated with the lender.


WHAT IF I HAVE A SECOND MORTGAGE OR LIENS ON MY PROPERTY?

All parties must be satisfied and will be part of the short sale process


HOW MUCH IS IT GOING TO COST ME?

There is no upfront fee to start a short sale. If we agree to work with you we will be paid at closing and we try to negotiate our commission with the lender. In short if we do not close the transaction we do not get paid.


More questions or want to get started?

JQ@PremierRealEstateServices.com

Todd@PremierRealEstateServices.com

Or call Jason at:

320-980-1022