Why consider a Shortsale

Why Consider A Short Sale in today’s Market? : 

Why Consider A Short Sale in today’s Market? Let us Explain Why!

Traditional Market Closing Expenses : 

Traditional Market Closing Expenses Commission 5% to 7% $12,500.00 to $17,500.00 Buyer Assistance up to 3% $7500.00 Survey $250.00 Termite Inspection $175.00 Title Expense $1500.00 Attorney Fee $500.00 Any Lien on Title $____________ Village Inspection $150.00 Selling Cost for Realtor/Buyers Attorney Cost/Property Expenses $250,000.00 Example Transaction Saving you MONEY

Your Total Cost to Sale Today : 

Your Total Cost to Sale Today $22,575.00 You will Save Money doing a short Sale! $250,000.00 Example Transaction based on the typical market Wow!

When doing a Short Sale : 

When doing a Short Sale Your Out of Pocket cost to sale is $0 To Close The Bank Absorbs The Cost!!

Expense Covered….. : 

Expense Covered….. Any taxes in arrears! Home Owner Association Dues! Most Liens on Title! Most mandatory repair cost! Out standing Mortgage amount! Realtor commissions! Your Attorney Fees! Your Lender’s Attorney Fees! $0 to close mean just that!

Short Sale : 

Short Sale A Valuable Option not always explained to the beneficial parties and or systematically processed. Let’s Take a look at your home’s options, when doing a short sale.

Halt Foreclosure With A Short Sale : 

Halt Foreclosure With A Short Sale Banks these days will stop and listen to your request to negotiate the sell of your home. You have the right to sell your home up until you loose possession on the foreclosed date. Usually that’s between 1-7 months after default of the mortgage note for non-payment.

Can I Profit from the sale! : 

Can I Profit from the sale! Upon your request to exercise the option to short sale and avoid foreclosure on the property. Which usually indicates in your market area, homes are selling for less than what is you owe. And in order for you to attract a buyer to consider your home, it has to be priced competitively with the competition of other homes selling in your immediate market area. In the agreement by the lender and homeowner to short sale the property. The institution as well as the homeowner is willing to take less(no profits) than what is owed on the home in order to mutually resolve the financial distress on all parties involved. In a typical transaction there is no money left after all expenses and cost to resolve the financial loss to all parties involved. Therefore the lender, homeowner or invested interested parties will not receive profits or receive money from the sale of the property. Because there is nothing left to gain monetarily, just morally and emotionally allowing all parties to separate in agreement. Understanding the Meaning REAL ESTATE SHORT SALE

Here what you will Gain Or Profit : 

Here what you will Gain Or Profit $Your Potential Monetarily Gain! In the process from 1st payment default to the actual sheriff’s sale(in Illinois) is your time as the homeowner to recapture losses. This process of pre-foreclosure to foreclosure to Sheriff Sale is 1 to 7 months of negotiations and court proceeding sometimes a longer or shorter time frame. $Your Gain Time Frame Within this time frame usually there are no payments made to the lender. Which result in no monthly mortgage expenses paid out of your income to the lender. Your time to Save$. This is no secret to the lenders or courts of law, you are not required to pay and stay.

Lenders Acceptance of Short Sale : 

You now can! Negotiate the sale of your property just as any other home owner in your neighborhood. Your home negotiated and sold at current market price. No foreclosure indicated on you credit file which can affect you for up to 10 years by law if foreclosed. No bank auction or sheriff sale on your home. Lenders Acceptance of Short Sale Valuable Option to the homeowner Let’s Move forward

Short sale’s?, what to expect. : 

Short sale’s?, what to expect. Lender Short Sale Process. It is a documentation driven process, with heavy time constraints on paper processing. One to five business days to update on all paper work received. Requires detailed financial statements and an explanations on the reason for financial loss or hardship. The short sale began when you have a interested buyer under contract on your property.

Continued : 

Continued The lender reviews the file which includes the property history, your financial statements, hardship letter, the buyer’s offer and a BPO(appraisal) is ordered to compare the market to the buyer’s offer. Thereafter the lender communicates with you or your representation(realtor, attorney) the negotiation of the offer. If negotiation are agreeable by all parties the process go to a clear to close status.

Continued….. : 

Continued….. And closing is set there after. The Most dreadful words that surrounds FORECLOSURES for homeowners period is. DEFICIENCY JUDGEMENT Unfortunately this is a train wreck that is not avoidable. Unless the lender chooses not to pursue the matter. If you deed in lieu, short sale or foreclose the property, this an option that the lender holds in their back pocket and use at their own discretion. What is a Deficiency Judgment? It is the loss between what is owed on the property and what it actually sells for. The difference is charged to you in a judgment enforced by the courts for the creditor and therefore placed on your credit file. That’s why it is so important for you to get involved with the sale of your property. Less the sale greater the cost to you in the end after closing.

In A Short Sale All Expenses and liens are paid by the lender : 

In A Short Sale All Expenses and liens are paid by the lender You And Your Family Get to Start Over! The agreement is to take less than what is owed!!! An additional benefit is no IRS Tax Obligation 2009 – 2010 has been waived by US Government on primary residences. For all 1099’s given to homeowner by the lending institutions which was the results of a short pay.

Short Sale Process Advice : 

Short Sale Process Advice The most important key in getting involved with your lender and the short sale process is you must communicate effectively. The short sale process does not stop your foreclosure. The process of negotiating an accepted offer by the lender, will halt the foreclosure process. It is important to be timely and accurate with your contact and communications with the lender. Systematically, your lender’s agents are trained to handle your file in order to process it. They must have documentation in a systematic order to consider and process your request. You must know or get to know there system otherwise you will be very frustrated and confused. And you could lose your home due to paper work not being received and processed accurately. Perhaps, The Greatest Piece of Advice. Read Carefully, Most Important of all!

Your other Options : 

Your other Options Or Catch up your payments! Foreclosure Take the property by enforcement of Sheriff’s Sale. Deed In Lieu of Foreclosure Give the home back in lieu of foreclosure(credit suffer with foreclosure status reporting for 10year by law). Loan Modification (Does not stop Foreclosure proceedings). Your lenders consideration to reduce your payment and or principle to an affordable amount base on your income and assets.

Choose to Negotiate : 

Choose to Negotiate You have a say in what your home is sold for based on previous home sales comparing to your home’s style and condition in your market area. Sell at Market. Decrease your Deficiency Big Profits are made at your expense. Once the lender gains possession of the home. It is sold at investors prices. Which could be as low as 45 % or less of what you owed. Greater your Deficiency Short Selling your Home! Foreclosure, Deed in Lieu! To Walk away and leave without selling could cost you a lot more than you think!

“Foreclosures” A Big Business : 

“Foreclosures” A Big Business Who Profits from the Loss of Your Home Bank Asset Investors Foreclosed homes are packaged in bundles or as product on a pallets and are auctioned off. As well As Homes are sold individually for 45% to 60% less than what was originally paid by the homeowner.

Property Investors : 

Property Investors Stand awaiting to profit from loss, its no secret, it’s the nature of the real estate financial system today. However Large Bank Investor Groups Purchase groups of homes at one time from the asset investor at .20 to .30 cent on the dollar. Possibly less in many cases to gain a profit when selling to the general market. Neighborhood Investor Looking to purchase homes at a profit and pay .40 to .60 cents on the dollar of the current market value, based on the properties age, condition style and over all square footage. And in some markets even less.

Foreclosure Not Your best Option : 

Foreclosure Not Your best Option As we have touched on many of the cost to foreclosure. Perhaps The true cost of Financial Distress is the pressure that is placed on your life and everyone that is affected around you. Foreclosure is not over when your home is taken. You suffer for years afterwards on financial records, at least 10year. It affect the way you are perceived by creditors for along time. And chances are you will still pay for the difference of what owed more or less base your decision to negotiate. When you opt to short sale it sends a message; yes I had some financial distress but I redeem by finances and honored my responsibility to my neighbors and lender by selling my home for fair market within my market area.

Short Sale Negotiations! : 

Short Sale Negotiations! Slows down the process of foreclosure and even stops the foreclosure proceedings if a purchase contract is approved accepted and closed in a timely manner.

How Do You Get Started? : 

How Do You Get Started? Hire A Team Of Licensed Professionals Realtor’s Attorney’s Title Company Close Your Home With Experience and Knowledge

Realtor And Attorney Negotiated : 

Short sale’s are systematically and strategically handled by a professional to professional code of conduct. With confirmation of documents and noted conversations to check and balance a system that work for everyone. Realtor And Attorney Negotiated Skilled Negotiators Trusted Advisors Expert Facilitator Your Experienced Realtor Partner Our

When doing a Short Sale : 

When doing a Short Sale Your Out of Pocket cost to sale is $0 To Close The Bank Absorbs The initial Cost to close!! The lender pays all fee’s and commissions to settle the debt.

Perhaps the Greatest Benefit of All! : 

No Foreclosure on Your Credit Report! Perhaps the Greatest Benefit of All! Lets explore your options

Using a Team verses Individuals : 

Using a Team verses Individuals WORK WITH INDIVDIUALS FIND YOU OWN ATTORNEY FIND YOUR OWN REALTOR GET INVOLVED BANK NEGOTAITONS A EXTREMELY HIGH COST TO THE HOMEOWNER PATHWAY ELITE PROPERTIES, Linda Pride R.E.BROKER ROBBIN PRIDE R.E.BROKER ATTORNEY TEAM Researched and selected TITLE COMPANY Convenient and accommodating Traditional Short Sale Options Team of Professionals You need a good team of expert advisors.

Our Short Sale Team’s Value : 

Our Short Sale Team’s Value Linda Kay Pride Broker Owner Full Time Prospecting Agent Over 17 years in Real Estate Robbin Pride Real Estate Broker Full Time Prospecting Agent Over 13 years in Real Estate Our Selected Attorney Over 25 years in Short Sale Negotiations. Real Estate Law Attorney Their team of Associates 15 Short Sale Specialists Group of Negotiation Attorneys 8am to 5pm Client Follow-up Hours Located Locally in the Chicago Area Pathway Elite Properties Pre-Foreclosure Law Firm You, Get What you Pay for.

Title Company : 

Title Company Security Title Real Estate Closings Refinances Closing Express Closing Our Title Company Over 25 years in Business One of the few title companies in business today. Local closings Experienced Closing Agent Closing assistance

Covered By Our Team Of Pro’s : 

Covered By Our Team Of Pro’s Over $22,575.00 Selling expenses based a $250,000 property transaction. No Attorney Retainer Fees No Village Repair Cost No Title Search Fees No Transfer Stamps Fees Housing Expenses stop until your home is sold . As your trusted advisor WE WORK HARD TO SAVE YOU MONEY AND TIME

Continued….. : 

Continued….. Realtor processing fees will apply at $799.00. This fee is a shared expense between our office and the homeowner. To market your home and process all necessary documentation on your behalf with the attorneys office team and your lender. Skilled Negotiators Trusted Advisors Expert Facilitator We Are Committed to Saving you Money and Time.

Hire Our Team : 

Hire Our Team Linda Kay Pride, Real Estate Broker Robbin Pride, Real Estate Broker Our Attorney Group 15 Short Sale Specialist Selected Title Company Skilled Negotiators Trusted Advisors Expert Facilitator

As your negotiatorsWe commit to helping you negotiate the best possible price for your home.We will help you obtain the most favorable terms in the shortest period of time.We effectively manage the buying or selling process to help you achieve your goals. : 

As your negotiatorsWe commit to helping you negotiate the best possible price for your home.We will help you obtain the most favorable terms in the shortest period of time.We effectively manage the buying or selling process to help you achieve your goals. Pathway Elite Properties Group Pathway Elite Properties 310 N. Hammes Ave. Joliet, IL 60435 1-630 Our Commitment to You At Advance Realty Network, Blue Island IL 60406 ,708-385-6525

Thank you for choosing : 

Where Experience Meets Satisfaction! Thank you for choosing The Elite Team of Professionals