Short Sales. A Win Win Solution for Everyone Involved

Size: px
Start display at page:

Download "Short Sales. A Win Win Solution for Everyone Involved"

Transcription

1 Short Sales A Win Win Solution for Everyone Involved Prepared for: North American Title Company June 5, 2008 Prepared by: Ildiko Pali Real Estate Broker Short Sale Specialist (mobile) (office) (fax)

2 Outline 1. Rising number of Foreclosures in the Bay Area and California (Market Overview) 2. The 10 Alternatives to Foreclosure 3. Foreclosure Timeline: Stages of Foreclosure 4. Short Sales (One Alternative to Foreclosure) a. What is a short sale? b. Why would a lender accept a discounted payoff? c. Why is the Short Sale a win-win solution? 5. The Short Sale Process a. Find the seller (marketing) b. Consult the seller c. List the property d. Enter property into MLS e. Open escrow f. Prepare the short sale package (for lender) g. Market the listing h. Present offers to seller i. Submit offer to lender j. Negotiate with existing lenders k. Control & negotiate with other lien holders l. Continue to accept offers m. Close escrow 2

3 1. Rising Foreclosures in the Bay Area Statistics We cannot open a newspaper today without reading about the rising number of foreclosures in the Bay Area. While in San Francisco we have been very lucky, but we did have 420 Notices of Default (NOD) in the first quarter of 2008, a 94.4% increase over the first quarter of 2007, which had 216 NODs. Other Bay Area counties are experiencing much higher numbers of foreclosures. According to DataQuick, 16,398 NODs were filed in the first quarter of 2008, a 143.7% increase from the first quarter of 2007, which had 6,730 NODs. Between January and March of this year, 113,676 NODs were filed in California, up 39.4% from the previous quarter s number of 81,550 and up 143.1% from the first quarter of 2007, which was 46,760. According to DataQuick, 68% of the homeowners who entered default (47,171) this year lost their homes to foreclosure, and most of these went back to the lender as REO properties. A year ago this number was only 22,445. The increased number of houses lost in foreclosures reflects declining home values and a pool of at-risk mortgages that originated in 2005 and 2006 (100% financing, negative amortization loans). Foreclosure resales, REOs, became a significant market factor, 33% of all California s resale activity last quarter. A year ago it was only 3.2%. Foreclosure resales vary significantly by county: in San Francisco the number was 5.1%, but in other counties it was as high as 66.7%. I believe that as Realtors, it s our duty to educate and HELP our clients and the public by presenting alternatives and solutions that allow them to avoid foreclosure. Helping homeowners to get out of foreclosure or to prevent a foreclosure can be a highly rewarding and, above all, a profitable business for Realtors. 3

4 2. The 10 Alternatives to Foreclosure 1. Payoff/refinance (Equity required) 2. Reinstatement (Savings or equity required) 3. Loan modification (Need good paying job & cash) 4. Forbearance (Negotiate payment plan, payment reduction) 5. Partial Claim (Get a second loan from the same lender) 6. Deed in Lieu of foreclosure (Give home back to lender) 7. Sell their home (If there is equity, sell without lender approval time is of the essence) 8. Short sale (Money owed is higher than market value needs lender approval) 9. Bankruptcy (Only a band-aid to buy time timing is very important). Refer your client to a good bankruptcy attorney; they may need one. Chapter 7 liquidation, to completely wipe out personal debt (not mortgage loans, just deficiency judgments) Chapter 13, wage earned plan, payments are made toward a plan to pay off debts in 3-5 years (good for loan modification) Chapter 11, business reorganization) 10. Do nothing (Not a solution, but many homeowners choose this option because of fear, lack of information and lack of knowledge and guidance) 4

5 3. Foreclosure Timeline Stages of Foreclosure This is usually a 6-8 month process, although at times it could take as long as two years. 1. Collection Stage a. 2-3 months (varies) b. property owner stops making payments lender records succession of trustee 2. NOD Pre-foreclosure stage (90 days) a. NOD recorded b. Trustee notifies owner (serves) - certified mail c. Trustee notifies all secured parties certified mail 3. NOTS Notice of Trustee Sale (21 days) a. Posting period i. In public location (courthouse, newspaper) ii. On property 4. T.S. Trustee Sale on the 111 th day a. Bought by an investor b. Went back to beneficiary (lender) REO property 5. After Trustee Sale (Buyer/Beneficiary take possession period) a. Buyer/Beneficiary obtains trustee s deed from successor Trustee (15 days or more) b. Cash for keys or Eviction period 5

6 3. Foreclosure Timeline Stages of Foreclosure 6

7 4. Short Sales (One Alternative to Foreclosure) 1. What is a short sale? a. It means the property value is less than the loan on the property. The sale of the property is subject to the lender accepting a discounted payoff. (We need to write this in our listing agreement) 2. Why would the lender except a discounted payoff? a. Save their rating If their rating is below 4: Fed weekly overviews bank activities (banks don t want that) Above a 4: Fed very seldom checks bank s activities b. Save cost: after foreclosure, bank can lose up to 40% of their loan amount due to: Foreclosure costs Carrying costs (sometimes 6-12 months) Fixing up costs Insurance, eviction costs, legal fees REO marketing costs Loss of interest on the reserve amount. (when a loan goes to foreclosure, the fed requires the bank to put the same amount in their reserve, losing out on interest) 3. Why is a Short Sale a Win-Win solution? a. Lender wins: costs less only 20-30% loss vs. 40% b. Seller wins: saves their credit (can be repaired in 3, 6 12 months) c. Realtor wins: lender pays our hard-earned commission (amount varies by lender) d. Buyer wins: has the opportunity to purchase the property for slightly under market value 7

8 5. The Short Sale Process 1. Finding the Seller (Marketing) a. Directly to homeowners in foreclosure b. Build relationships w/mortgage brokers c. Buy list of homeowners in default d. Build relationship with lenders e. Client referral f. Build relationship w/lawyers (tax, bankruptcy, divorce, estate, criminal) g. Build relationships with estate planners/cpas, tax advisors 2. Consult With the Seller a. Qualify the seller (see Borrower Financial Statement Form attached) b. Qualify the property loan amount vs. market value g. Determine the listing price i. Do CMA (you have to explain this to lender) ii. Listing price depends on where the homeowner is in the foreclosure timeline iii. If you have time, list at market value (high end) iv. If you have less time at market value (low end) (make sure you have at least days before TS date. Some lenders (like GMAC) will not process a short sale if they don t have at least 30 days before TS. A common mistake: agents list the property at all the liens + commission + selling expenses = NO offers (a sure way to drive the seller into foreclosure) 8

9 5. The Short Sale Process continued 3. List the Property a. CAR Listing Agreement i. Use 6% commission (lender will negotiate it down) ii. Terms: The sale of the above property is subject to lenders approval of a discounted payoff iii. Short Sale addendum: A very important document see Short Sale Addendum, attached. (I do not include this in my short sale package, it s only between seller and agent) iv. CAR disclosure regarding RE Agency Relationship v. Authorization to Proceed with Negotiations with Lending Institution vi. List of short sale package items you need from seller 4. Enter Property into MLS 5. Open Escrow get prelim (VERY important) a. Have to contact all lien holders b. Have to have authorization from all lien holders 6. Prepare Short Sale Package (for lender) a. Seller needs to provide their financial information ASAP b. Every lender has their own requirements what they want in their short sale package (call them to fax you their list) c. Lenders will not review or begin transaction until all necessary documentation is delivered d. My short sale package includes up to 21 documents and approx pages (see Short Sale Checklist, attached) 9

10 5. The Short Sale Process continued e. All lenders want the following: i. Sellers 2-year tax returns ii. Sellers financial statement iii. Last 2 months pay stubs (for all parties on title) iv. Last 2 month bank statements v. Hardship letters vi. Listing agreement vii. Offer viii.hud ix. Etc 7. Marketing Property Time is of the Essence a. Possible buyers for these properties i. NOD period- owner occupier buyer (pays higher price) ii. NOTS period investor (wants min. 20% discount) More marketing time = higher price (pay attention! Lenders need days to look at your proposal) 8. Present offers to seller a. Seller can accept offer ONLY subject to lender s approval (put it on a counter or addendum) 9. Submit Offer to Lender a. Pay Attention! Lenders need days to look at your proposal! b. Short sale package with purchase offer 10

11 5. The Foreclosure Process continued 10. Negotiate with existing lenders a. Negotiate to accept a discounted payoff 2 weeks to 3 months and call all lenders before you start the process if you can and ask them if they would accept a discounted payoff and participate in a short sale. It could save you lots of time. 11. Control and Negotiate with Other Lien Holders a. IRS judgments, franchise tax liens b. HOA c. Child support 12. Continue to Accept Offers a. Continue submitting offers to seller until one is accepted by lender 13. Close Escrow a. Most lenders need days to decide whether or not to accept a short sale b. When they do accept an offer, they want to close within 5-14 days. c. Make sure the buyer is prepared with their financing and can close quickly 11

12 6. What is the Closing Ratio on Short Sales? Due to the lenders inability to change with the market conditions, some of them believe that if they cannot get their price before foreclosure, they will get it after the sale as an REO property. I find that they are slowly waking up this year and are realizing that they can NET more through a short sale than after they take it back. Part of our job is to help them realize how beneficial a short sale can be for them in terms of reducing their losses. I hope that by the third quarter of this year, the short sale closing ratios will reach the 98% that we saw in the 90s. Our goal at Princeton Real Estate is to build strong relationships with other Realtors, mortgage brokers and direct lenders in order to work together to educate homeowners regarding their options and that we can dramatically decrease the number of foreclosure sales occurring in the Bay Area, thereby creating a win win solution for everyone involved. If you have any questions about short sales, need guidance in a short sale transaction, or would like to become part of my Mentoring Program, please feel free to call me, Ildiko Pali, at

13 7. About Princeton Real Estate Boutique Concept of Real Estate Industry Princeton Real Estate is the Boutique concept of the real state industry. Service above all with the client s best interest in mind Founded by Ildiko Pali, Broker and former owner of Century 21 Dynasty and a RE/MAX franchise. The Ildiko Pali Team has over 30 years of in-depth knowledge in marketing, selling, acquiring, renovating and managing real estate, and investment consulting in the Bay Area. Divisions Princeton Real Estate: Residential division, selling real estate in the Bay Area Princeton Premier Properties: Luxury Home Division, selling high-end properties in California. Princeton Investments, Inc.: Commercial Division, specializing in selling commercial real estate throughout the United States. Real Estate Asset Protection Group: Consulting Division, educating clients on real estate asset protection. 13

14 8. Mission Statement My mission, desire and goal is to assist all parties in a challenging real estate transaction, accomplishing their goals and allowing them to remain financially whole. I believe real estate decisions can only be made with the correct facts and realities as to the current marketplace. My goal is to make sure all parties the lender, the trustee and the Trustor have these facts to make the correct decisions. Once the decisions have been made, implementation is paramount because of time and value of money. Through counseling all the parties on the reality of the current real estate market and by producing a plan of action that will be quickly implemented, I believe my services can help reduce losses and create a situation where both the lender and the borrower can win. My philosophy is to get it done now! By working only with motivated buyers and sellers and by creating an environment in which we successfully sell the property and minimize the losses, we are able to create a win-win solution for all parties. \Äw ~É ctä Short Sale Specialist 14

15 9. Ildiko Pali, Owner/Broker Ildiko Pali has been working in real estate in the Bay Area for more than 33 years. Her objective is to provide real estate services that will assist others in gaining a benefit or avoiding a loss. This includes the purchase, sale, exchange and finance of residential, commercial, industrial, and income properties, as well as providing information about real estate specialties such as REO s (bank-owned) and short sales (discounted payoffs). Ildiko is an innovative marketer who has successfully marketed and sold residential properties ranging from 1-4 units to luxury homes, residential income properties, commercial and industrial properties, vacant land, new developments and probate properties. She specializes in complex short sale transactions requiring lengthy preparation, skilled negotiations, and creative problem solving. She has assisted hundreds of clients with pre-foreclosure and short sale transactions and has helped lenders in management and marketing of REO properties. She has over 30 years experience in selling, acquiring, renovating, and managing real estate and has supervised independent contractors and vendors for property rehabilitation projects. In addition, she has successfully completed numerous exchanges and has assisted many clients in probate transactions. As owner/broker of Princeton Real Estate and leader of the Ildiko Pali Team, she has created a company and a team that reflect her values and her commitment to serving her clients with the highest levels of integrity and professionalism. 15

How to Sell Your Home in a Short Sale

How to Sell Your Home in a Short Sale How to Sell Your Home in a Short Sale A viable solution for property with no equity Warrior Brown Realty Real Estate Professionals setting the standards for excellence Tangie Warrior Brown, Realtor Direct:

More information

Distressed Home Solutions

Distressed Home Solutions Keller Williams Emerald Coast Distressed Home Solutions Released: July 16, 2009 Team Baranowski, Keller Williams Emerald Coast 850-259-1788 850-685-6045 distressedpropertyexpert.net What is the Distress

More information

CITE THIS READING MATERIAL AS:

CITE THIS READING MATERIAL AS: CITE THIS READING MATERIAL AS: Realty Publications, Inc. Real Estate Finance Eighth Edition Table of Contents i Table of Forms...v Glossary...601 Quizzes...619 Table of Contents Chapter 1 Chapter 2 Wellenkamp

More information

Professional Short Sale Negotiators Short Sale Option Agent Listing Packet

Professional Short Sale Negotiators Short Sale Option  Agent Listing Packet Presents Short Sale Option www.lotusrealtygroup.com Agent Listing Packet 400 S Sierra Ave. Suite 102, Solana Beach, CA 92075 SUPPLEMENTAL COMMISSION AGREEMENT WITH LISTING BROKER/AGENT ( Listing Broker/Agent

More information

NACA REAL ESTATE AGENT

NACA REAL ESTATE AGENT NACA REAL ESTATE AGENT Compensation Range: $60,000 to $80,000+ (100% Commission with ability to exceed $100,000) FLSA: Independent Contractor Location: Nationwide Locations Contact: Real Estate Department:

More information

Before you enter a Short Sale, Foreclosure or REO listing READ THIS!

Before you enter a Short Sale, Foreclosure or REO listing READ THIS! Before you enter a Short Sale, Foreclosure or REO listing READ THIS! Why is it mandatory to report if the transaction is a short sale, in foreclosure, or an REO? Article 2 of the Code of Ethics requires

More information

Why is real estate investing the

Why is real estate investing the 9669_Shemin_01.w.qxd 9/19/02 11:40 AM Page 7 C H A P T E R 1 Act as if it were impossible to fail. DOROTHEA BRANDE Real Estate: The Best Wealth Builder in the Universe Why is real estate investing the

More information

JEFFREY SAMUELS. Welcome! Maximize Your Real Estate Value!

JEFFREY SAMUELS. Welcome! Maximize Your Real Estate Value! Welcome! We look forward to speaking with you about the future sale of your home. We are confident you will feel that the programs we outline for you will provide you with the greatest possibility of selling

More information

Sell Your House in DAYS Instead of Months

Sell Your House in DAYS Instead of Months Sell Your House in DAYS Instead of Months No Agents No Fees No Commissions No Hassle Learn the secret of selling your house in days instead of months If you re trying to sell your house, you may not have

More information

AFFIDAVIT OF UNDERSTANDING

AFFIDAVIT OF UNDERSTANDING AFFIDAVIT OF UNDERSTANDING THIS IS AN IMPORTANT LEGAL DOCUMENT CONCERNING THE SALE OF YOUR HOUSE AND SHOULD BE READ CAREFULLY. IF YOU HAVE ANY QUESTIONS, CONTACT AN ATTORNEY BEFORE SIGNING. STATE OF )

More information

Short Sales, Foreclosures, REOs and Auctions: Tools for Success in Today s Market

Short Sales, Foreclosures, REOs and Auctions: Tools for Success in Today s Market Short Sales, Foreclosures, REOs and Auctions: Tools for Success in Today s Market Short Sales The Whole Story! Identifying the Short Sale Property 1 2 gather information and analyze a property and its

More information

Monthly Market Watch for the Prescott Quad City Area. Provided by Keller Williams Check Realty Statistics from August 2012 Prescott MLS

Monthly Market Watch for the Prescott Quad City Area. Provided by Keller Williams Check Realty Statistics from August 2012 Prescott MLS August 2012 Monthly Market Watch for the Prescott Quad City Area Provided by Keller Williams Check Realty Statistics from August 2012 Prescott MLS Report Overview: This report includes MLS data for the

More information

2017 BREGLIO LAW OFFICE FORMS & VIDEO FEE LIST

2017 BREGLIO LAW OFFICE FORMS & VIDEO FEE LIST 2017 BREGLIO LAW OFFICE FORMS & VIDEO FEE LIST COMBO PACKAGE DEALS SAVE P1 ALL FORMS AND VIDEOS $3,995 $1,165 P2 ALL VIDEOS $795 $205 P3 SELLER FINANCING PACKAGE (F1, F2, V5, V6, & V7) $1,195 $392 P4 WHOLESALING

More information

March 20, TO: All MAAO Members FROM: MAAO President Stephen C. Behrenbrinker, CAE, RE: MAAO-DOR Foreclosure Advisory Document

March 20, TO: All MAAO Members FROM: MAAO President Stephen C. Behrenbrinker, CAE, RE: MAAO-DOR Foreclosure Advisory Document March 20, 2008 TO: All MAAO Members FROM: MAAO President Stephen C. Behrenbrinker, CAE, RE: MAAO-DOR Foreclosure Advisory Document Greetings! On behalf of the Minnesota Association of Assessing Officers

More information

The foreclosure process can be broken down into three key components.

The foreclosure process can be broken down into three key components. FORECLOSURES INVESTING Investing in Foreclosures For patient long term real estate investors this is an excellent time to be buying. by Lex Levinrad 2111 words 7 pages If you are thinking about investing

More information

Buy Your Home. How I Help You. Helping you find and purchase a home is only one facet of my job.

Buy Your Home. How I Help You. Helping you find and purchase a home is only one facet of my job. How I Help You Buy Your Home Helping you find and purchase a home is only one facet of my job. MY SERVICES Explain real estate principles, contracts and documents Refer you to a reputable lender that can

More information

BUYER'S DISCLOSURE STATEMENT

BUYER'S DISCLOSURE STATEMENT Marin County Below Market Rate Home Ownership Program BUYER'S DISCLOSURE STATEMENT Buyer(s): Property Address: Name of Development: Local Jurisdiction: Income Category of Unit: Purchase Price: NOTICE:

More information

INSERT YOUR COMPANY LOGO HERE. Home Selling Guide. A Real Estate Solutions Company

INSERT YOUR COMPANY LOGO HERE. Home Selling Guide. A Real Estate Solutions Company INSERT YOUR COMPANY LOGO HERE Home Selling Guide A Real Estate Solutions Company Table of Contents Who Are We?...3 Our Business Model...6 Sample Scope of Work....11 Taking the Steps...16 INSERT PHOTO HERE

More information

Erica Kassner, Realtor Office: Mobile: Fax: Ericakassnerhomesinalabama.

Erica Kassner, Realtor Office: Mobile: Fax: Ericakassnerhomesinalabama. Erica Kassner, Realtor Office: 256-519-7220 Mobile: 256-503-5707 Fax: 256-519-7242 ericakassner@kw.com Ericakassnerhomesinalabama.com What Makes Listing Your Home with Me So Great? CANCEL THE LISTING AT

More information

PROPERTY MANAGEMENT PROPOSAL

PROPERTY MANAGEMENT PROPOSAL PROPERTY MANAGEMENT PROPOSAL Brian Patrick, Broker/Owner 1195 Red Hawk Drive Frisco, TX 75033 (972) 333-5270 (214) 291-2516 Brian Patrick, BROKER/OWNER Certified Residential Specialist 1195 Red Hawk Drive

More information

Why Use a REALTOR The Critical Role of the REALTOR in the Real Estate Transaction The REALTOR Commitment REALTOR Code REALTOR Code of Ethics

Why Use a REALTOR The Critical Role of the REALTOR in the Real Estate Transaction The REALTOR Commitment REALTOR Code REALTOR Code of Ethics Why Use a REALTOR The Critical Role of the REALTOR in the Real Estate Transaction Do you know what your REALTOR does, exactly? Surveys show that many homeowners and homebuyers are not aware of the true

More information

Videos and Audios availble at Or, by calling our office at

Videos and Audios availble at   Or, by calling our office at 2017 BREGLIO LAW OFFICE FORMS & VIDEO FEE LIST Videos and Audios availble at www.gumroad.com/bregliolawoffice Or, by calling our office at 801-560-2180 PACKAGES SAVE P1 ALL FORMS AND VIDEOS $3,495 $1,910

More information

I Index. Acquisition strategy

I Index. Acquisition strategy I A Acquisition strategy absentee homeowners, 60, 61 bank-owned/real estate owned, 39 foreclosure auction, 39, 40 bid winning, 52 exit strategy, 50 lien holders, 51 opening bid, 50, 51 professional bidders,

More information

The Buyer Consultation: Demonstrating & Articulating Value. Interactive Workshop. Student Workbook

The Buyer Consultation: Demonstrating & Articulating Value. Interactive Workshop. Student Workbook The Buyer Consultation: Demonstrating & Articulating Value Interactive Workshop Student Workbook The Buyer Consultation: Demonstrating and Articulating your Value What is a Buyer Consultation? What is

More information

INVESTORS PURCHASE RECORD NUMBER OF FORECLOSURES AT AUCTION

INVESTORS PURCHASE RECORD NUMBER OF FORECLOSURES AT AUCTION INVESTORS PURCHASE RECORD NUMBER OF FORECLOSURES AT AUCTION April Foreclosure Notices Drop from March Record Levels Discovery Bay, CA, May 12, 2009 ForeclosureRadar (www.foreclosureradar.com), the only

More information

FROM: CITY MANAGER DEPARTMENT: PLANNING AND COMMUNITY ENVIRONMENT DATE: APRIL 11, 2005 CMR:213:05

FROM: CITY MANAGER DEPARTMENT: PLANNING AND COMMUNITY ENVIRONMENT DATE: APRIL 11, 2005 CMR:213:05 TO: HONORABLE CITY COUNCIL FROM: CITY MANAGER DEPARTMENT: PLANNING AND COMMUNITY ENVIRONMENT DATE: APRIL 11, 2005 CMR:213:05 SUBJECT: PRESERVATION OF TWO BELOW MARKET RATE UNITS AT 777-57 SAN ANTONIO ROAD

More information

The Real Estate Transaction in 180 Steps What Your REALTOR Does for You

The Real Estate Transaction in 180 Steps What Your REALTOR Does for You REALTOR ASSOCIATION OF PIONEER VALLEY, INC. The Western New England Center for Real Estate Services 221 Industry Avenue Springfield, MA 01104 413-785-1328 phone 877-854-6978 toll-free 413-731-7125 fax

More information

Buyers Guide to REO Properties

Buyers Guide to REO Properties 2010 Buyers Guide to REO Properties Mike Bridges Property Express CRM 2/22/2010 Table of Contents Table of Contents... 2 Introduction... 3 What are REO Properties?... 3 The Buying Process... 3 Select a

More information

The Short Sale Foundation System

The Short Sale Foundation System Preview Of What You Will Learn Sections: Introduction...5 Short Sale 101...7 What is a Short Sale? Pros and Cons of a Short Sale Short Sale Qualifications The Nine-Step Short Sale Process...13 Step 1:

More information

1 of 6. May 28, Re: Mortgage Loan #: Property Address:

1 of 6. May 28, Re: Mortgage Loan #: Property Address: May 28, 2014 Re: Mortgage Loan #: Property Address: Dear Flagstar Customer(s): Flagstar Bank reviewed the pending sales contract on the above mortgage loan in accordance with the terms of the Pre-Foreclosure

More information

Pre-Listing Activities. Listing Appointment Presentation

Pre-Listing Activities. Listing Appointment Presentation The True Value of a Realtor: 184 Tasks Surveys show that many homeowners and homebuyers are not aware of the true value of a Realtor. Realtors perform the following 184 tasks, and while the list may differ

More information

A RESIDENTIAL REDEVELOPMENT COMPANY. Home Selling Guide. Company Overview

A RESIDENTIAL REDEVELOPMENT COMPANY. Home Selling Guide. Company Overview A RESIDENTIAL REDEVELOPMENT COMPANY Home Selling Guide Company Overview Table of Contents Who Are We?...3 Our Business Model...5 Scope of Work....10 Taking the Next Steps...15 Who Are We? Dedicated Real

More information

things to consider if you are selling your house

things to consider if you are selling your house things to consider if you are selling your house KEEPINGCURRENTMATTERS.COM WINTER 2012 EDITION PAGE TABLE OF CONTENTS 1 3 5 7 9 House Prices: Where They Will Be in the Spring Understanding the Impact OF

More information

WHAT YOUR REALTOR DOES FOR YOU IN 181 STEPS

WHAT YOUR REALTOR DOES FOR YOU IN 181 STEPS WHAT YOUR REALTOR DOES FOR YOU IN 181 STEPS Surveys show that many homeowners and homebuyers are not aware of the true value a REALTOR provides during the course of a real estate transaction. The list

More information

Preparing to Write the Listing Agreement (3 hours)

Preparing to Write the Listing Agreement (3 hours) Preparing to Write the Listing Agreement (3 hours) Objectives: To educate licensees in the fundamentals of preparing to write and present the exclusive listing agreement. To review essential pre-listing

More information

100 Ways to Find Great Leads

100 Ways to Find Great Leads 100 Ways to Find Great Leads Pizza Boxes: Pizza boxes are a great way to advertise. Many pizza boxes reserve space on top of the box specifically for advertising. Apparel: Logos on clothing such as t-shirts,

More information

A M A S T E R S P O L I C Y R E P O R T An Analysis of an Ordinance to Assure the Maintenance, Rehabilitation, Registration, and Monitoring of

A M A S T E R S P O L I C Y R E P O R T An Analysis of an Ordinance to Assure the Maintenance, Rehabilitation, Registration, and Monitoring of A M A S T E R S P O L I C Y R E P O R T An Analysis of an Ordinance to Assure the Maintenance, Rehabilitation, Registration, and Monitoring of Vacant, Foreclosed Residential Properties By Drennen Shelton

More information

International Buyer s Guide to US Real Estate

International Buyer s Guide to US Real Estate International Buyer s Guide to US Real Estate INTERNATIONAL BUYER S GUIDE TO US REAL ESTATE Table of Contents Introduction 3 Common Real Estate Practices in the Us 4 The MLS Commission Buying Your Home

More information

LindaWright SERVING TAMPA FAMILIES SINCE Preparing for a Successful Home Sale

LindaWright SERVING TAMPA FAMILIES SINCE Preparing for a Successful Home Sale LindaWright SERVING TAMPA FAMILIES SINCE 2007 Preparing for a Successful Home Sale Welcome, I realize that you have a choice when hiring an agent to help you sell your Home and truly appreciate the opportunity

More information

101 Ways Your Intern Can Triple Your Real Estate Investing Business This Year

101 Ways Your Intern Can Triple Your Real Estate Investing Business This Year 101 Ways Your Intern Can Triple Your Real Estate Investing Business This Year For 99% of entrepreneurs and business owners, we have identified what we believe are the top 101 highest leverage, most profitable

More information

Volume II Edition I Why This is a Once in a Lifetime Opportunity for Investors

Volume II Edition I Why This is a Once in a Lifetime Opportunity for Investors www.arizonaforcanadians.com Volume II Edition I Why This is a Once in a Lifetime Opportunity for Investors In This Edition How to make great investment returns in a soft market U.S. Financing for Canadians

More information

April 7, 2016 TIFFANY ADAMS 5 PLEASANT RIDGE DR APT 512 OWINGS MILLS, MD 21117

April 7, 2016 TIFFANY ADAMS 5 PLEASANT RIDGE DR APT 512 OWINGS MILLS, MD 21117 5151 Corporate Drive Troy, Michigan 48098-2639 Phone: (248) 312-2000 www.flagstar.com April 7, 2016 TIFFANY ADAMS 5 PLEASANT RIDGE DR APT 512 OWINGS MILLS, MD 21117 Re: Mortgage Loan #: 00126230 Property

More information

BERKSHIRE HATHAWAY HOMESERVICES: A REPUTATION BUILT ON TRUST, FRAMED IN EXCELLENCE

BERKSHIRE HATHAWAY HOMESERVICES: A REPUTATION BUILT ON TRUST, FRAMED IN EXCELLENCE BERKSHIRE HATHAWAY HOMESERVICES: A REPUTATION BUILT ON TRUST, FRAMED IN EXCELLENCE A Reputation Built on Trust Berkshire Hathaway HomeServices New England Properties is a leading real estate brokerage

More information

Selling Homes for Every Lifestyle

Selling Homes for Every Lifestyle Selling Homes for Every Lifestyle - 3rd generation Real Estate Company www.larenetwork.com SOLD L.A. Real Estate Network Group - 1818 West Beverly Blvd #209, Montebello, CA 90640 - Office# 323-724-2420

More information

University of Phoenix - Prior Learning Assessment - Corporate Articulation Arizona School of Real Estate & Business

University of Phoenix - Prior Learning Assessment - Corporate Articulation Arizona School of Real Estate & Business - Prior Learning Assessment - Corporate Articulation Arizona School of Real Estate & Business Credit Recommendation Guide (CRG) The following courses have been evaluated by Corporate Articulation to potentially

More information

HOMEBUYER ONLINE ORIENTATION. 412 Maynard Ave S Suite 201 Seattle WA

HOMEBUYER ONLINE ORIENTATION. 412 Maynard Ave S Suite 201 Seattle WA HOMEBUYER ONLINE ORIENTATION 412 Maynard Ave S Suite 201 Seattle WA 98104 206-323-1227 info@homesteadclt.org IN THIS PACKET YOU WILL FIND: INTRODUCTION to Homestead Community Land Trust PROBLEM: The Reality

More information

2/4/2011. Tonight's Meeting.. Creative Buying Strategies for 2011: Making Money when you have No Money. w/ Reggie Lal. 1 st Time Visitors?

2/4/2011. Tonight's Meeting.. Creative Buying Strategies for 2011: Making Money when you have No Money. w/ Reggie Lal. 1 st Time Visitors? Tonight's Meeting.. Creative Buying Strategies for 2011: Making Money when you have No Money w/ Reggie Lal 1 st Time Visitors? 1 Join us at 6:30 pm to Network Bring Your Real Estate Questions Dine with

More information

Paper Power Note Investing

Paper Power Note Investing Paper Power Note Investing Jayme Kahla Module 6 - PUTTING It All TOGETHER! Today s Topic How to Find GOOD Deals (not the junk that is splattered all over the Net) How to Gather Specific Information (and

More information

Real Estate Foreclosure & Loss Mitigation

Real Estate Foreclosure & Loss Mitigation Real Estate Foreclosure & Loss Mitigation Presented by: Keri P. Ebeck, Esq. September 2015 Pre-Foreclosure Considerations Breach Letters Act 6 and Act 91 If not, Mortgage and Promissory note may require

More information

H O M E. Buyers. Guide R E A L T O R. C O M / T O P P R O D U C E R S T E P - B Y - S T E P S E R I E S

H O M E. Buyers. Guide R E A L T O R. C O M / T O P P R O D U C E R S T E P - B Y - S T E P S E R I E S Buyers H O M E Guide Contents The home buying process a brief, step-by-step overview... 2 A home buyer s glossary... 8 To buy or not to buy considerations for first-time home buyers in this market... 13

More information

Foreclosure Sales Nearly Double from Prior Year Despite Jump in Sales, Foreclosure Delays Remain at Record Levels

Foreclosure Sales Nearly Double from Prior Year Despite Jump in Sales, Foreclosure Delays Remain at Record Levels Foreclosure Sales Nearly Double from Despite Jump in Sales, Foreclosure Delays Remain at Record Levels Discovery Bay, CA, April 13, 2010 - ForeclosureRadar (www.foreclosureradar.com), the only website

More information

YOUR GUIDE TO SIMPLIFYING THE SHORT SALE

YOUR GUIDE TO SIMPLIFYING THE SHORT SALE YOUR GUIDE TO SIMPLIFYING THE SHORT SALE (TCF Package) SHORT SALE CHECK LIST FINANCIAL INFORMATION Tax Information Two most recent 1040 s Two most recent W2 s Two Months Most Recent Bank Statements- all

More information

FIDUCIARY AND LEGAL RESPONSIBILITIES OF REALTORS RELATING TO SHORT SALES

FIDUCIARY AND LEGAL RESPONSIBILITIES OF REALTORS RELATING TO SHORT SALES 328 Harbor Street Suite 16 Conneaut, OH 44030 jwatson@srecnow.com FIDUCIARY AND LEGAL RESPONSIBILITIES OF REALTORS RELATING TO SHORT SALES A growing issue among Realtors regarding short sales is their

More information

Report on NAR s Meetings with Large Lenders to Discuss Originations and Servicing Issues

Report on NAR s Meetings with Large Lenders to Discuss Originations and Servicing Issues Report on NAR s Meetings with Large Lenders to Discuss Originations and Servicing Issues Bank of America Home Loans Wells Fargo Home Mortgage Chase Home Mortgage CitiMortgage Prepared by NATIONAL ASSOCIATION

More information

Subject-To Addendum to One to Four Family Residential Contract (Resale)

Subject-To Addendum to One to Four Family Residential Contract (Resale) Buyer: Seller: Property: Subject-To Addendum to One to Four Family Residential Contract (Resale) This Addendum is included and incorporated in the above referenced Contract as if recited verbatim therein.

More information

Home Buyer s Guide. Everything you need to know before buying a home

Home Buyer s Guide. Everything you need to know before buying a home Home Buyer s Guide Everything you need to know before buying a home A real estate transaction is one of the biggest financial transactions most people will do in a lifetime. Understanding the buying process

More information

Y O U R E X P E R T BUYER'S GUIDE

Y O U R E X P E R T BUYER'S GUIDE Y O U R E X P E R T BUYER'S GUIDE Wendy Monday 10+ Years Licensed REALTOR Top Producing Agent in PARKS EXPERIENCE LEADERSHIP & MEMBERSHIPS National Association of REALTORS (NAR) Greater Nashville REALTORS

More information

Page 1 of Steelers Blvd. ǀ Fishers, IN Pre- Listing Activities. Listing Appointment Presentation

Page 1 of Steelers Blvd. ǀ Fishers, IN Pre- Listing Activities. Listing Appointment Presentation Pre- Listing Activities 1. 2. 3. 4. 5. 6. 7. 8. 9. 10. 11. 12. 13. 14. 15. 16. 17. 18. 19. 20. Send a written or e-mail confirmation of appointment and call to confirm. Make appointment with seller for

More information

Who are we? Our Services. About the Auctions. Auction Lists Drive Reports Bidding Live Auction Results Title Checks

Who are we? Our Services. About the Auctions. Auction Lists Drive Reports Bidding Live Auction Results Title Checks Who are we? Our Services Auction Lists Drive Reports Bidding Live Auction Results Title Checks BuyLowAz provides investors with a daily list of properties going to Auction. The daily list includes opening

More information

I N T R O T O L E A S E O P T I O N S

I N T R O T O L E A S E O P T I O N S I N T R O T O L E A S E O P T I O N S LEARNING THE NUTS AND BOLTS OF LEASE OPTIONS This guide will help you better understand lease options and how they can help you acheive your goals in real estate.

More information

FLOPPING OR A VALID INCREASE IN MARKET VALUE?

FLOPPING OR A VALID INCREASE IN MARKET VALUE? FLOPPING OR A VALID INCREASE IN MARKET VALUE? by Keith J. Barton, Esq. 10684 Main St. PO Box 54 Mantua, OH 44255 330-274-4141 Office 866-499-0451 Fax keith.barton@gmail.com www.kbartonlaw.com Disclaimer:

More information

COMPLETE GUIDE TO BUYING A HOME IN SAN ANTONIO

COMPLETE GUIDE TO BUYING A HOME IN SAN ANTONIO COMPLETE GUIDE TO BUYING A HOME IN SAN ANTONIO Buying a home is a big deal. While the process is exciting, it can also be overwhelming. At KW Portfolio we are committed to making sure buyers have all the

More information

YOUR GUIDE TO SIMPLIFYING THE SHORT SALE

YOUR GUIDE TO SIMPLIFYING THE SHORT SALE YOUR GUIDE TO SIMPLIFYING THE SHORT SALE (Navy Federal Package) SHORT SALE CHECK LIST FINANCIAL INFORMATION Tax Information Two most recent 1040 s Two most recent W2 s Two Months Most Recent Bank Statements-

More information

AAII Los Angeles Chapter Saturday Meeting Investment Seminar at the Skirball Center, September 15, 2012 TODD RUBINSTEIN

AAII Los Angeles Chapter Saturday Meeting Investment Seminar at the Skirball Center, September 15, 2012 TODD RUBINSTEIN AAII Los Angeles Chapter Saturday Meeting Investment Seminar at the Skirball Center, September 15, 2012 TODD RUBINSTEIN S ENIOR PARTNER Rubinstein Group at TOLD Partners 818-601-7200 ToddR@told.com ToddR@realtor.com

More information

Exclusive Right-To-Sell or Lease Listing Agreement

Exclusive Right-To-Sell or Lease Listing Agreement In consideration of the services rendered by the Listing Broker ("Broker") named below, the undersigned seller or landlord ("Seller") exclusively lists the property as described below ("Property") for

More information

EXAM REVIEW COURSE MANUAL

EXAM REVIEW COURSE MANUAL EXAM REVIEW COURSE MANUAL I. LEGAL ASPECTS A. PROPERTY 1. Real Property 2. Fixtures 3. Run with the Land 4. Personal Property B. ESTATES 1. Freehold a. Fee Simple Estates (Fee Estate) b. Fee Simple Defeasible

More information

NORTH CAROLINA POWER OF SALE FORECLOSURE ABSTRACT - LONG FORM

NORTH CAROLINA POWER OF SALE FORECLOSURE ABSTRACT - LONG FORM NORTH CAROLINA POWER OF SALE FORECLOSURE ABSTRACT - LONG FORM Special Proceeding No. SP County, North Carolina Deed of Trust Foreclosed (DTF): Book Page Abstracted by on, 20 OWNER/PROPERTY/INTEREST FROM

More information

NDS offers a single source Default Services Company with SSAE16 nationwide.

NDS offers a single source Default Services Company with SSAE16 nationwide. ABOUT NDS Internally managing a default or REO portfolio can be challenging. Identifying, retaining and coordinating the activities of various attorneys, trustees, real estate agents and title companies

More information

Who Are We? OUR MISSION

Who Are We? OUR MISSION Who Are We? In Integrity Investments LLC is a professional, full service real estate solutions firm that buys and sells properties throughout the Northen Nevada and Denver area. We specialize in buying

More information

Training Call Buying At Foreclosure Auctions

Training Call Buying At Foreclosure Auctions Training Call Buying At Foreclosure Auctions As Seen On Bob Diamond, Attorney Ed Diamond, MBA How Do You Buy at Foreclosure Auctions? Get the Auction List Do your homework on the properties Show up Ready

More information

The nonjudicial foreclosure process

The nonjudicial foreclosure process Chapter 44: The nonjudicial foreclosure process 499 Chapter 44 The nonjudicial foreclosure process After you read this chapter, you will be able to : identify a mortgage or other lien on real estate by

More information

acknowledgment addendum attorney fee provision choice-of-law provision consideration

acknowledgment addendum attorney fee provision choice-of-law provision consideration acknowledgment A formal declaration made before an authorized person, e.g., a notary public, by a person who has executed an instrument stating that the execution was his or her free act. In this state

More information

GUIDE. The Shields Team of Keller Williams Realty (423)

GUIDE. The Shields Team of Keller Williams Realty (423) GUIDE The Shields Team of Keller Williams Realty (423) 896-1232 www.tricityrealestateforsale.com theshieldsteam@gmail.com Shields Team At The Shields Team, we also love real estate--the land, the homes,

More information

Contents. off the fence. It s a good life!

Contents. off the fence. It s a good life! I hope you enjoy the latest edition of Brian Buffini s Real Estate Report. The goal of this piece is to help you stay educated on today s market and position yourself as a true professional and your clients

More information

Welcome and Congratulations!

Welcome and Congratulations! Welcome and Congratulations! What s Coming 14 Fast Financing Formulas Creative Financing Combos Creative Financing Do s & Don ts Replays (with corresponding documents, forms and bonuses) posted in members

More information

Finding Deals in Defailted Properties Pre-Foreclosure, Courthouse Auctions and Bank-Owned REOs

Finding Deals in Defailted Properties Pre-Foreclosure, Courthouse Auctions and Bank-Owned REOs Finding Deals in Defailted Properties Pre-Foreclosure, Courthouse Auctions and Bank-Owned REOs Finding Deals on properties with defaulting mortgages offers opportunities at three very different entry points.

More information

10 Tips for Real Estate Investors

10 Tips for Real Estate Investors 10 Tips for Real Estate Investors FINANCIAL ADVISORS TRUSTWORTHY BY DESIGN SM When you buy a home, people often remind you it could be the biggest investment you will ever make. But should you use that

More information

2017 LOS ALTOS HILLS REAL ESTATE REVIEW

2017 LOS ALTOS HILLS REAL ESTATE REVIEW 2017 LOS ALTOS HILLS REAL ESTATE REVIEW Dear Neighbors and Los Altos Hills Homeowners: Your home is where our heart is THE TROYER GROUP I am pleased to present you with my Los Altos Hills Real Estate Review

More information

Foreclosure Exit Strategies. Maja Kazmierczak Senior Loan Modifica;on Specialist April 29, 2015

Foreclosure Exit Strategies. Maja Kazmierczak Senior Loan Modifica;on Specialist April 29, 2015 Foreclosure Exit Strategies Maja Kazmierczak Senior Loan Modifica;on Specialist April 29, 2015 Overview Short Sale Deed in Lieu of Foreclosure Selling Foreclosure Short Sale What is a short sale? When

More information

Flow Chart- Researching Real Estate

Flow Chart- Researching Real Estate Flow Chart- Researching Real Estate 1. Generate Lead (20 + Methods) 2. Gather Data 3. Analyze Data 4. Assess Maximum Price to Pay (Comparable Analysis & Discount Worksheet/Term Worksheet OR Cash Flow Analysis)

More information

Escrow Basics. Chapter 6. Learning Objectives

Escrow Basics. Chapter 6. Learning Objectives Chapter 6 Escrow Basics Learning Objectives After reading this chapter, you will be able to: explain the basic regional differences of escrow instructions. define the general principles followed by all

More information

The 7 Critical Steps for Getting Started in Real Estate Investing

The 7 Critical Steps for Getting Started in Real Estate Investing JumpStartREI.com presents The 7 Critical Steps for Getting Started in Real Estate Investing Your Instructor: Socorro Curiel Master Coach Real Estate Investor Educator Socorro@JumpStartREI.com Why are so

More information

Please find attached a brief overview of our services and an informative review of Chase Group s SBA-compliant business valuation services.

Please find attached a brief overview of our services and an informative review of Chase Group s SBA-compliant business valuation services. THE CHASE GROUP - Business Brokers Mergers, Acquisitions, Financing & Valuation Services 41185 Golden Gate Circle, Suite 202 Murrieta, CA 92562 951.541.0414 tel 951.303.8157 fax www.chasegroup.us 2012

More information

Welcome to the Khare Empire, where we help build yours!

Welcome to the Khare Empire, where we help build yours! 1 Welcome to the Khare Empire, where we help build yours! TEXAS is the best place for anyone to make money in real estate RIGHT NOW, even if you are just starting and have no experience. Contact us today:

More information

Kulshan Community Land Trust 1303 Commercial Street, Suite 6, Bellingham, WA phone (360)

Kulshan Community Land Trust 1303 Commercial Street, Suite 6, Bellingham, WA phone (360) HomeBuyer Manual ---------------------------------------------------------------------------------------------------------------------------- Kulshan Community Land Trust 1303 Commercial Street, Suite

More information

Vendor Financing for Realtors/Builders

Vendor Financing for Realtors/Builders Vendor Financing for Realtors/Builders Prepared by Chris Richards Licensed Mortgage Broker Copyright May 29, 2015 Helping Realtors Sell More Real Estate www.richardsmortgagegroup.ca Agenda 1. What is Vendor

More information

Homebuyer Presentation

Homebuyer Presentation Click to View New Homes Tina Hess Coldwell Banker Realtor 810-599-0895 Hess.tina68@gmail.com Homebuyer Presentation Everything you need to know Make buying your home easy and affordable. Click To Apply

More information

HOME PURCHASING CONSULTATION. This presentation is property of Michael Lewis

HOME PURCHASING CONSULTATION. This presentation is property of Michael Lewis HOME PURCHASING CONSULTATION This presentation is property of Michael Lewis. 310-801-6040 PROFESSIONAL PROFILE Mike Nichols Mike Nichols Exp Realty Born and raised in the Sacramento area, Mike has a deep

More information

Seller s Package. Service Provided by Your Real Estate Professionals

Seller s Package. Service Provided by Your Real Estate Professionals Seller s Package Service Provided by Your Real Estate Professionals Charles Jennings Ashley Fredrick (715) 897-4496 (715) 207-9300 MarshfieldRealtor@gmail.com C21Ashley.Fredrick@gmail.com The role of the

More information

The Knowledge Resource. First-Time Home Buyers FOR. Your Agent Is the Best Guide Save Time, Money, and Frustration

The Knowledge Resource. First-Time Home Buyers FOR. Your Agent Is the Best Guide Save Time, Money, and Frustration K N O W L E D G E I S P O W E R The Knowledge Resource FOR First-Time Home Buyers Your Agent Is the Best Guide Save Time, Money, and Frustration The Keys to Homeownership Unlock the American Dream Is Buying

More information

The Critical Role of the Realtor in the Real Estate Transaction

The Critical Role of the Realtor in the Real Estate Transaction The Critical Role of the Realtor in the Real Estate Transaction Why Was This List Prepared? Surveys show that many homeowners and homebuyers are not aware of the true value a REALTOR provides during the

More information

CHAPTER Council Substitute for House Bill No. 643

CHAPTER Council Substitute for House Bill No. 643 CHAPTER 2008-79 Council Substitute for House Bill No. 643 An act relating to foreclosure fraud; creating s. 501.1377, F.S.; providing legislative findings and intent with respect to the need to protect

More information

Affidavit Rerecorded Lost Assignment Affidavit Agreement A document in which two or more parties All Persons Signing All Persons Signing None None

Affidavit Rerecorded Lost Assignment Affidavit Agreement A document in which two or more parties All Persons Signing All Persons Signing None None Prince William County Land Records Indexing Guidelines by Document Type INSTRUMENT TYPES DESCRIPTION GRANTOR (F2) GRANTEE (F3) CONSID- ORIGINAL ERATION BOOK & PAGE OR INSTRUMENT # (15 DIGIT) Affidavit

More information

This informational paper is provided to you by

This informational paper is provided to you by This informational paper is provided to you by Sepulveda Escrow Corporation 10550 Sepulveda Blvd. #105 Mission Hills, California 91345 (818) 838-1831 Facsimile (818) 838-1833 info@sepulvedaescrow.net YOUR

More information

PVD Foreclosure Related Sales Guidelines

PVD Foreclosure Related Sales Guidelines Introduction PVD Foreclosure Related Sales Guidelines The purpose of this paper is to provide guidance to county appraisers in dealing with the high volume of foreclosure related sales, also known as REO

More information

LISTING -VS- FOR SALE BY OWNER

LISTING -VS- FOR SALE BY OWNER LISTING -VS- FOR SALE BY OWNER WORK WITH URGENT BUYERS WILLING TO PAY MORE ISSUE.... There are four major categories of home buyers: 1. First Time Buyers - These people don t understand the home buying

More information

Private Investor Short Sale Packet

Private Investor Short Sale Packet Private Investor Short Sale Packet. Thank you for contacting ( Financial Freedom ) regarding a potential Third Party Short Sale. Enclosed you will find the information necessary to request a Third Party

More information

Buying Your Perfect Anderson Island Home

Buying Your Perfect Anderson Island Home Buying Your Perfect Anderson Island Home Let s Get To Work Finding Your Perfect Home My Mission To help you find the best island home that fits your needs in the time frame important to you. Credentials

More information

EXECUTIVE STAFF... 3 SERVICES OFFERED... 6 PROPERTY MANAGEMENT... 6

EXECUTIVE STAFF... 3 SERVICES OFFERED... 6 PROPERTY MANAGEMENT... 6 TABLE OF CONTENTS Table of Contents EXECUTIVE STAFF... 3 President, Co-Founder... 3 Chief Operations Officer, Co-Founder... 3 Acquisitions and Sales... 3 General Property Manager... 3 Chief Financial Officer...

More information

MORE HOMES SOLD FOR MORE MONEY IN LESS TIME

MORE HOMES SOLD FOR MORE MONEY IN LESS TIME MARKETING PLAN A COMPREHENSIVE PLAN FOCUSED ON THE SALE OF YOUR HOME PRESENTED BY: CHRIS ERMOLD 225 S. BOULDER ROAD LOUISVILLE, CO 80027 OFFICE: (303) 666-6500 DIRECT: (303) 664-6512 CERMOLD@REMAX.NET

More information