Yolo County Real Estate
Welcome to the place where you can talk about Real Estate or financing. With all the transactional details and the constantly changing laws it can be very confusing. Here you can ask any question and receive an educated answer so you can make an informed decision.
Saturday, April 09, 2011
Tuesday, February 15, 2011
Sunday, February 13, 2011
Tuesday, November 16, 2010
Saturday, September 25, 2010
Friday, August 20, 2010
Financial Incentives to Seller - For Short Sales
For the majority of homeowners in distress, a short sale is currently the best answer for them. To assist the housing crisis across America, our government is offering tremendous incentives to lenders to cooperate with short sale transactions.
Monday, August 16, 2010
Short Sale Approval Letter - Protect your Sellers
When completing a short sale we do not always have control what is stated in that Approval Letter. So lets say the seller does not want to move forward in the sale due to the fact that the bank will not completely release the seller from any future liability. What do you do?.. .Well you already have a ratified contract and if you don't move forward you violated the contract..specific performance. So I have found that the best way to avoid this is to make sure you have good verbiage in your counter offer regards to the seller approval of said bank approval letter. It pays to have a certified short sale specialist on your side. After completion of 3 certification there is still always something new to learn...
Be Nice to you Asset Manager
I remember a short sale I completed a long time ago. At that time I was not educated on how to do them and new it would be hard. This was before there was ever any training available. I going through the process and new the importance right away of calling them at least one time a week for updates. Well I was quite the nag and known to be one. Each time I called the bank needed something new or they lost something and I had to resend it. It was one of the most frustrating processes that I ever experienced. I kept my cool... deep breathes and patience. As I was spinning my wheels one afternoon I received a call from the asset manager. She acknowledged that she received the HUD once before and lost it. Instead of getting mad, I just stated "no problem" I will send it again. She said to me "you are so nice to me Linda I am sending this file to management today for approval". Within 2 days I had a beautiful approval with all the verbiage in it that I wanted to protect my seller. So there you have it. Want things done...easy with honey than anything else..
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