14 Things Buyers Must Know About Short Sales!

Home Buyer’s Short Sale Tip # 1 What is Short Sale? Seller owes more than _______________ Transaction has to be approved by _________________. Agreement Between 3 parties ________, _______________ & _______________. Tip # 1 Info@TheZeroDownLoan

Home Buyer’s Short Sale Tip # 2 Are you serious & will you last? Short Sale Transactions take ____________. Seller’s (Short-Sale)-Lender may force buyer to ___________________________. Tip # 2 Info@TheZeroDownLoan

Home Buyer’s Short Sale Tip # 3 How hafa affects the short sale transaction Less ______________________ For Sellers Short Sale Lender has to______________. Could mean ____________ closing for you. Tip # 3 Info@TheZeroDownLoan

Home Buyer’s Short Sale Tip # 4 The bucks stops . . .Where?  * Seller & Buyer can sign a Contract but the Short Sale has to be approved by ____________________________ Tip # 4 Info@TheZeroDownLoan

Home Buyer’s Short Sale Tip # 5 Possible delays beyond your control  If Seller doesn’t cooperate with Lender by providing________________ then process can be delayed or come to a stop. Lender will have a __________________ for Seller Tip # 5 Info@TheZeroDownLoan

Home Buyer’s Short Sale Tip # 6 Be prepared for a counter offer * Lender will send ________________ or _______________To conduct a market evaluation of the property Tip # 6 Info@TheZeroDownLoan

Home Buyer’s Short Sale Tip # 7 Multiple offers: are you prepared?  Know what you are willing to pay for the home by checking _________ comparables Make your first offer your _______ best offer Tip # 7 Info@TheZeroDownLoan

Home Buyer’s Short Sale Tip # 8 Repairs & costs * Many Sellers in Short Sales are in _______________________. This means important items such as termite work and other repairs might fall on your lap. Tip # 8 Info@TheZeroDownLoan

Home Buyer’s Short Sale Tip # 9 Knowing your worst competition Short Sales attract __________________. They often make ________________ offers. Make your offer stronger by ______________________ or maybe even __________________________________. Tip # 9 Info@TheZeroDownLoan

Home Buyer’s Short Sale Tip # 10 Approved’ short sale What does it mean? __________________. Possibly no mention of _____________ yet, but considered ‘approved’ short sale Truest sense it means __________________ __________________________________. Under HAFA ___________________________. Tip # 10 Info@TheZeroDownLoan

Home Buyer’s Short Sale Tip # 11 Low ball offers  Banks don’t want to own real estate but ____________________________________________________________________ But they have to answer to_____________. Don’t _______________________ with Low Ball offers Tip # 11 Info@TheZeroDownLoan

Home Buyer’s Short Sale Tip # 12 Surprises at closing *Because Short sales (often) involve Sellers who are ____________________________________, there can be surprises at/before _____________. Liens, Judgments, IRS liens, etc _______________ Buyers making _______________________ offers are particularly in danger because they may not check _______________________ Don’t end up with a home that has __________________________________________________________________ Tip # 12 Info@TheZeroDownLoan

Home Buyer’s Short Sale Tip # 13 Short sale rejects  Not All Short Sales Are _______________. They can declined for number of reasons such as ___________________________ _________________________________. After weeks of waiting/negotiating, the transaction could ____________________ . Tip # 13 Info@TheZeroDownLoan

Home Buyer’s Short Sale Tip # 14 Drama with inferior lienholders  What are Lienholders ? ________________________. Why are they called ‘Inferior’? ______________________________________________________________________________. Inferior Lienholders will often ______________________________________________________________________________. This could Buyers have to ________________________. Tip # 14 Info@TheZeroDownLoan

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