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Short Sale Mistakes

Most short sale mistakes are made because of a lack of training…

Forth Hoyt has spend hundreds of hours and tens of thousands of dollars  to stay educated, certified and on top of the ever changing environment of short sales.  Look at these Certificates and designations:

Forth Hoyt CRS, CDPE, Certified HAFA Specialist,

PFC, RDCPro, A-REO, SFR, SRES, e-PRO, Master’s Club

Certified Mortgage Resolution Specialist

Certified Home Retention Specialist

Certified Pre-Foreclosure Specialist

Short Sale And Foreclosure Resource Designation

SFR_cmyk.jpg picture by justthegrownups The National Association of Realtors

Only Short Sales and Foreclosure Resource Program

Because the current housing crisis is a recent development, the majority of Realtors are unfamiliar or have received little training on working with homeowner on conducting a short sale. Nationwide short sale success rate is less than 15%.  For Certified Distressed Property Experts, (CDPE) that number jumps to more than 85%!

Here are some of the common mistakes:

•           Listing the property above market value to cover full payoff

•           Wasting time waiting for lender specific documents

•           Approaching the lender before a buyer is secured

•           Submitting an incomplete short sale package

•           Mistaking the lender as the client

•           Submit offer that is too low and/or buyer financing that is not strong enough

•           Submitting multiple offers to the lender

•           Inadequate follow up

•           Title search not completed early on

•           Expecting the process to be much shorter than is realistic

These mistakes are extremely costly to the homeowner facing foreclosure. When the foreclosure clock is ticking, these mistakes are the different between a successful short sale or losing the property at the foreclosure auction and facing deficiency judgments. Please choose your agent with care.

Contact a Certified Sacramento Short Sale Agent Today!