How to Address Closing Cost Credits in Short Sale TransactionsAgents, buyers and sellers are abuzz because it’s a seller’s market again. Just a few weeks ago an agent friend of mine received 24 offers on his short sale listing, and another property in my area got 10 offers the very same weekend.When reviewing short sale offers with clients, it is important to look at the type of loan that the buyer will obtain: VA, FHA, or conventional financing. And, will the buyer require a closing cost … [Read more...]
The Secret to Real Estate Investing Success
January 5, 2012 By Leave a Comment
I am about to reveal to you the secret to real estate investing, so pay close attention.I have two offices. One is located in a modest single-level building in downtown Gilbert, Arizona. The other has four wheels and smells like breathe mints (my daughter loves those things). Whether I’m at my desk or behind the wheel of my car you can bet I’m listening to local sports radio.This week, in between talk of the future of the Arizona Cardinals and the lousy Phoenix Suns basketball team, I … [Read more...]
Closing A Real Estate Deal with an Out of State Seller
November 7, 2011 By Leave a Comment
Closing a Real Estate Deal with an Out of State Seller.I have noticed that a lot of times brand new real estate investors find it hard to understand how to close a deal with an out of state seller. The procedure is actually quite simple once you understand it. I have been working with absentee owners for just about 4 years now, and I can tell you that it generally is pretty easy.When you have found an absentee owner that is a motivated seller they usually are very cooperative in getting the deal … [Read more...]
Closing a Short Sale Successfully
October 27, 2011 By Leave a Comment
Closing a Short Sale SuccessfullyAll of the pieces of the short sale process, when handled well, will result in a successful short sale closing. The first step in the process is the most important, and that step includes pre-qualifying the seller. No jokes here. Just like getting a loan pre-qualification or pre-approval for a home buyer before the purchase of a home, you absolutely must pre-qualify your seller in order to assure that the potential short sale transaction will net a positive … [Read more...]
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Short Sales With No Cost to Sellers
Short Sales With No Cost to Sellers I see many agents who advertise that a short sale transaction can be closed at no cost to the seller. When I see those ads, I always look for the fine print (and I do not always see any).When you take a short sale listing, the seller frequently inquires as to what s/he can be expected to pay< (i.e., how much does short sale processing cost). It’s true that frequently the short sale can be concluded with no cost to the seller. But, then there are those … [Read more...]