Good tips for sellers from Christina. There are more than a few methods to solve an owner's difficulties with their house.
Like Christina says, talk to people with experience and knowledge. The next door neighbor or the dog catcher may not be a good source of information.
Very well thought out tips. Sellers should be advised of all their choices and the possible outcomes.
Heaven help them with a loan modification program with BofA, though. Low rate of success to date. They ARE good at giving out HUGE bonuses though. Very sad.
Mr & Mrs Possible Seller call me, "I'm thinking about doing a short sale, what should I do first?"
I replied, "I recommend you do a few things before you decide to go forward with a short sale. Short sale is not for everyone. Foreclosure can sometimes be prevented. Maybe a loan modification would be good for you.
- If a lower payment is all you need (for ANY reason), you should call your lender & see if they have a loan modification program.
- Check with a Bankruptcy Attorney to see if Bankruptcy is an option or not.
- Check with your tax person to make sure you understand tax consequences of any choice you make.
- Check with a Real Estate Attorney to know possible consequences of all your choices."
The best advice I could give to someone thinking about doing a short sale is STOP getting advice from your friends, co-workers & people that you know that have been thru losing or hanging onto their house. I mean this in a loving, caring way, really. Truly this is why. EVERYONE's situation is UNIQUE to themselves. If one little detail is different from your situation to theirs, it could change which CONSEQUENCES could happen.
You are worth it to make sure you do these 4 things above. I'm happy to walk you thru these 4 things if you like. Talking with me is always confidential. I have a few different service providers that I can refer you to for help.
If you are thinking of buying or selling a house in Tracy, Ripon, Manteca, Mountain House, Stockton, Modesto, Lathrop or Salida, call me at 209-321-6122 or email email@example.com
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