INCREASE YOUR PROFITS TODAY, LEARN HOW TO EXECUTE SHORT SALES

Archive for May, 2008

What is a Real Estate Short Sale?

Posted May 30th, 2008

A real estate short sale is the sale of a property for less than what is owed on it. The lenders voluntarily accept less than full payment and forgive the unpaid balance.This happens when a property is worth less than what is owed, the owner is insolvent, and can’t make up the difference. In the sale of the property, a lender is paid off with a dollar value short of what it is owed, thus the term short sale. This article briefly explains why this happens and why they are so common.

The root of this issue is in collateralization. The vast majority of properties are purchased with the aid of financing. In order to pay for a property, a homeowner places a small down payment. Since the down payment is not sufficient to purchase the property, a loan is used to pay the remainder of the acquisition value. In other words, the homeowner finances part of the purchase value of the property with a loan from a lender. To guarantee payment, the homeowner pledges the property as collateral. This is called collateralization. This is an agreement between the owner and the lender, such that in case of default, the lender has the right to dispose of the property in order to get paid. In the U.S., properties are collateralized by trust deed, mortgage, and security deed. The term “mortgage” is generic.

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Ten Mistakes to Avoid When Doing Short Sales

Posted May 30th, 2008

 
 
Short sales are thrilling transactions. In a shortsale, an insolvent homeowner about to be foreclosed sells a property for less than what is owed. The remainder of the debt is forgiven. The key to being successful at this is to be a dedicated professional. Dedicated professionals know what to do and what to avoid. These are the top ten mistakes to avoid.
 

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Ten Tips About Short Sales

Posted May 30th, 2008

 
 
Short sales are thrilling, fulfilling and profitable transactions. In a short sale, the homeowner sells a property for less than what is owed on it. The remainder of the debt is forgiven. This happens because the property is over-mortgaged, the homeowner is insolvent and it’s the lender’s best option.
 

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Ten Tips About Short Sales

Posted May 9th, 2008

 
 
Short sales are thrilling, fulfilling and profitable transactions. In a short sale, the homeowner sells a property for less than what is owed on it. The remainder of the debt is forgiven. This happens because the property is over-mortgaged, the homeowner is insolvent and it’s the lender’s best option.
 

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How do I Know if a Short Sale is Right for Me?

Posted May 9th, 2008

How do I Know if a Short Sale is Right for Me?
 

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Documents Needed for a Short Sale

Posted May 9th, 2008

 
 
A short sale is a transaction in which a homeowner sells a property for less than what is owed, the lender takes a loss, and any unpaid balance is forgiven. For this to happen, a set of documents is needed.

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What is a deed in lieu of foreclosure?

Posted May 8th, 2008

 
 
A deed in lieu of foreclosure is a transaction in which an owner in default, and about to be foreclosed, grants ownership of the property to the lender, as payment for the debt. The value of the property serves as debt payoff. As such, the owner no longer owes anything to the lender. This article briefly explains why and how this happens.

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