Checking The Pulse Of The Kansas City Real Estate Market
If you’re behind on your mortgage or thinking you’re about to get behind on your mortgage payments, now is the time to sit down with an Overland Park Realtor and discuss your options. But don’t sit down with just any agent, make sure you sit down with an agent who understands the Short Sale process. Most agents don’t have a complete grasp on the complicated process and getting hooked up with the right agent can easily double or triple your chances of success.
We go through a checklist of questions to help determine whether we think a homeowner has a good chance at achieving a successful Short Sale. A Short Sale can be more or less complicated depending on whether there’s just one lender involved or whether a second loan has been taken out on the home. Finding out who all has an ownership interest in the property is critical in devising an out plan for each party involved. We need to know if a seller has received a Notice of Default from their lender because time is of the essence more than ever when dealing with a Short Sale.
We always want to be sure a homeowner has exhausted any possibilities to stay in the home, such as refinancing or asking their lender whether a loan modification is possible. Every homeowner’s situation and goals will lead to different questions being asked. We are constantly working to get a complete picture of what we’re up against. So that we can see all lien’s that have been placed against a property, we get our home sellers a free preliminary title report so we can see exactly what it’s going to take to achieve a successful Short Sale.
There’s a lot of work to be done to get a lender to even CONSIDER a Short Sale, much less accept one. From pin-pointing the hardships that have occurred to cause the situation to helping clients explain these hardships to their lender, we’re there every step of the way. If you’re in a distressed situation with your home and think a Short Sale may be a possibility for you, we’re happy to discuss your situation.
Posted by Jason Brown
