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The Biggest Threat To A Successful Northeast OH Short Sale

Northeast OH – The biggest threat to your short sale is a high appraisal. Banks consider short sales for economic reasons.

A bank will approve a short sale only if they think they will net more money taking the short sale offer. To make sure they aren’t selling the house for too little, they order an appraisal.

Click here to discover how other sellers successfully did a short sale and avoided foreclosure.

The problem is that most homes are selling for less than appraisal. In one example, a non short sale listing sold for 225k. However, the property could have appraised for 300k.

That means the short sale lender would never have approved it. This is why your agent needs to make sure the appraisal is accurate. There is nothing unethical or illegal about doing this. Let me explain why.

80% of the loans handled by big mortgage companies are actually owned by an investor. These front companies (such as Wells Fargo, Bank of America, SunTrust, or Chase) are acting as a “servicer.”

The servicers save money by taking 60-90 days to consider a short sale offer, turning down files over one missing doc, and cutting staff. This is why short sale offers get turned down for no reason.

However, if they can see that the house is valued at 145k and you’re selling it for 140k, they’ll accept the offer. Again, which is why your agent needs to make sure the appraisal is accurate.

Thinking about a short sale?

I can help you short sale your property and get back on your feet. Send me an e-mail at iandymorris@gmail.com. I will contact you for a free consultation.

When we talk, I will explain how the process works in detail and answer any questions you may have. Or, if you prefer, you can call me at (440) 348-5500

Discover how other sellers successfully completed a short sale and request a free consultation by clicking here.

Thinking about a loan modification? Our Northeast OH loan modification kit has the instructions you will need to get a loan modification approved with your bank. Click here to request a copy.

Thanks for reading this, Andy Morris.

Andy is a Real Estate Broker at Realty Trust Services.

Phone: (440) 348-5500. iandymorris@gmail.com.

View My homes for sale at www.rtserve.com.

Andy Morris specializes in loan modification assistance and short sales in Northeast OH. Northeast OH Modification Help, Northeast OH Short Sales, Northeast OH Short Sale Realtor, Northeast OH Short Sales. Northeast OH Realtor, Northeast OH Stop Foreclosure, Northeast OH Foreclosure Prevention, Prevent Foreclosure Northeast OH, Northeast OH Foreclosure Defense, Northeast OH behind in Payments.

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