| Dear Home Sellers, |
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Are you looking to sell your home? Read this -
We leave all other agents behind with our most
dynamic and complete marketing plan in the world!
We utlilize the most powerful real estate marketing system available. You think I'm exaggerating when I say we are the best! Well, I'll let YOU be the judge.
If you list your home with us, you will receive:
- Professional portfolio of photographs of your home.
- Individual Professional website for your home.
- Listing with the Arizona's MLS
PLUS exposure on over 285 real estate websites.
- Email flyer presentation to the all other agents.
- Mobile phone text alert system to share information with drive-bys.
- Monthly Open House, inviting the area home owners to drop by.
- Follow up system reaching prospects for the next 35 weeks GUARANTEED!
- No upfront fees.
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| “Profit occurs when preparation and experience meet opportunity." |
| When it’s time to sell, you must be confident that every element of negotiating the best terms and the highest price has been set before your home is even listed. |
| What is the effect of Short Sale on credit versus a Foreclosure? |
Item |
Short Sale |
Foreclosure |
Credit Score |
As little as 50 points dip |
250 to 300 points. Score affected for 3 years |
Credit History |
Loan is typically reports as “paid in full, settled” |
Remains on person’s credit history for 10 years |
Future loan with any Mortgage Company |
No declarations needed |
On all future 1003 mortgage applications, a prospective buyer needs to answer YES to question C in Section VIII. “Have you had property foreclosed upon or given title or deed in lieu thereof in the last 7 years” This will affect future rates |
Future Fannie Mae Loan for Primary Residence |
Will be eligible for a Fannie Mae backed mortgage after only 2 years |
Ineligible for 7 years |
Security Clearance |
Does not challenge most security clearance |
If you are in a position that requires security clearance, the clearance may be revoked and the position will be terminated. |
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| What is the effect of amount owed against the house? |
This sounds like a reasonable question, but in fact it is irrelevant to the process. The bank cares about three things and three things only:
• Market Value of the Property
• Amount of the Offer
• Financial ability of the borrower
Banks do not make their decisions on how much they are losing in a particular Short Sale transaction.
When a bank takes a home back through foreclosure, they do not turn around and try to sell that property for the amount they were owed. They simply sell it for what its current market value is or a small discount below current market value. The same is true for Short Sales. Banks prefer not to own homes |
| How do you know the bank will accept any low ball offer? |
| Truthfully, there is no way to know with 100% accuracy that the bank is going to accept your offer. At present, banks are typically willing to accept an offer that is between 85% and 90% of current market value. All of our listings are priced appropriately, so if an offer is at or near market value, we feel confident that if it is possible to get the short sale approved, it will be approved. |
| How long does the short sale process take? |
| The actual negotiation process can take as little as 2 weeks or as long as 3+ months. On average, most Short Sales take between 30 – 60 days from the date the offer is presented to the lender to the date of the Short Sale approval. In most cases, 50 – 80 phone calls and faxes will occur to get the job done. As per the Short Sale Addendum to the Purchase Contract, when Short Sale approval is received, the buyer will need to be prepared to close escrow within 21 days. |
| What if there a foreclosure sale date scheduled? |
| Foreclosure sale date information is public information and can be found with a small amount of internet research. It is possible to extend the foreclosure date on a property that is pending trustee’s sale all the way up until a half‐hour prior to sale. Don’t let the foreclosure date keep you from reviewing and submitting an offer to the bank. |
| If there is an offer received, are other offers entertained? |
Properties that have already received accepted offers will be listed as AWC or Pending in ARMLS. We do not submit multiple offers signed by the Seller to the bank. Contrary to what many agents believe, sending in multiple offers to the bank can invariably confuse the lender and prevents a quick approval process. The more people that are involved, the slower the process becomes. We do have a responsibility as REALTORS to present every offer to the Seller and the seller only. If we get a new offer, it will always be presented to the seller for their review. Our advice to our seller will however be to refrain from sending multiple offers to the lender.
Start with the resources I’ve provided. There is no charge for this information. These will help get you started in terms of assessing your real estate situation and planning for a stress-free and successful sale.
The real estate market in Chandler is volatile, especially lately, and it takes an experienced professional to move your house quickly, professionally, and profitably.
When you’ve decided to sell, I will be your advocate, your guide, and your fierce negotiator. I will work hard to make yours a great sale.
I look forward to it.
Sincerely,
Kiran |