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When A Bank Should Approve A Northeast OH Short Sale Offer

Northeast OH – A bank should approve a short sale when it makes the best financial sense to do so. Here is a little known fact. About 80% of all loans are not owned by the bank handling them.

That means that someone else is going to lose money if your bank rejects the short sale.

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

Here is another little known fact. Banks usually lose money whenever they reject a short sale and foreclose on a home. I am sure you are wondering why. Let me explain.

Most short sales are still owner occupied. As you probably know all bank foreclosure properties are vacant. An occupied property is much easier to sell than a vacant one.

An owner occupied home looks like a home. The furniture and appliances are setup in their proper places. The house is clean and kept up on.

Here is something else that people do not understand about short sales. All banks and servicers have a fiduciary duty to the investor of the loan.

If they own the loan themselves, they have a fiduciary duty to their stockholders. The duty is to get that investor the most money possible.

So, a lender should accept an offer if it will net the most money. Your only job is to prove that to the lender. Here is how we can assure the negotiator that the offer will net them the most money.

Do that by showing them that the property has been on the open market for 60-90 days. It is best to be able to show that the house was easy for buyers to see and other agents to show.

Ask them the following, “The agent selling the home is an experienced agent. The house has been on the market for X number of days. I have lived here the entire time and kept up on the house.

It looks good. We have had 43 showings since it’s been on the market. Out of that, only 3 buyers expressed interest. Out of those 3 buyers, the current buyer is the one willing to pay the most money.

The agent is doing their job marketing the property. With the current foreclosure case status, the home won’t be foreclosed until June or July. When you foreclose on the house, I will move out.

I won’t be keeping the house up anymore. The new listing agent will be working on 20 other homes and won’t be able to do as good of a job as myself.

Do you honestly think the home is going to sell for more money at that time?” When you ask them that, they won’t be able to argue with you. 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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