how to short sell real estate: avoid foreclosure and bankruptcy


Presentation Description

This presentation from is about short sale & selling delinquent properties. Follow simple steps & get rid of mortgage burden immediately.


Presentation Transcript

Slide 1:

SHORT SALES Short Sell Delinquent Properties & Avoid Foreclosure/Bankruptcy

Slide 2: We will be looking at What is Short Sales Benefits of Short Sale Procedure for Short Sale SHORT SELL PROPERTY – AVOID BANKRUPTCY/ FORECLOSURES

Slide 3: Short Sales is a process where the lender discounts the current mortgage allowing new buyer to buy the property at a discounted rated directly from the lender and freeing the seller from any outstanding mortgage. WHAT IS SHORT SALE

Slide 4: Eliminates all mortgage liabilities Less paperwork Reduces credit points Requires short time to complete Allows buying new property immediately Less monetary obligations compared to foreclosures Can avail short sale while current on mortgage payments BENEFITS OF SHORT SALES

Slide 5: Evaluate market value of property through market analysis Get legal & real estate advise from renowned broker Arrange for relevant documents Find a lender & buyer Follow & Complete lender procedures Strike an agreement with buyer PROCEDURE FOR SHORT SALE

Slide 6: 2 years tax return Recent/Last Payroll Slip Hardship Letter Current Mortgage Papers Financial Statement Market Analysis Statement 2 months bank statements HUD-1 preliminary net sheet etc.. GENERAL DOCUMENTS REQUIRED

Slide 7: Most important aspect of Short Sale, where seller makes a case of his/her hardship. An authentic & well-built letter that specifies reasons for not being able to pay mortgage payments and convinces lenders why it is better to short sell the property on discounted rate than foreclosing. HARDSHIP LETTER Hardship Letter

Slide 8: Short Sale is Better than Foreclosure & Filing Bankruptcy Easy and Less Time Consuming Procedure For Prefect Deal Speak to more than 1 Buyer/Lender Provide Genuine Information Research on Procedure, Financial Obligations Prior to Applying SUMMARY

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