Bressani Real Estate - Short Sale Listing Presentation 1-12-11

8/8/2019 Bressani Real Estate - Short Sale Listing Presentation 1-12-11

1/14

Welcome to

Bressani Real Estate

Jim Hamilton

Direct: (916) 355-7005 Mobile: (916) 601-0500 Fax: (916) 294-8565

150 Natoma Station Drive, Suite 300, Folsom, CA 95630

[email protected]

www.Jimhamiltonrealestate.com

CA DRE# 0181309

THE SHORT SALE PROCESSResource for Sellers in Sacramento, Placer and El Dorado Counties

LYON REAL ESTATE AND ITS AGENTS DO NOT GIVE TAX AND/OR LEGAL ADVICE PERTAINING TOSHORT SALE TRANSACTIONS. PROPERTYOWNERS THAT ARE CONSIDERING SHORT SALES

SHOULD SEEK TAX AND/OR LEGAL ADVICE FROM QUALIFIED PROFESSIONALS.


2/14

YOURE NOT ALONE

Jim Hamilton



[email protected]


CA DRE# 0181309

The Short Sale Process

VALUE - SOLUTIONS - RESULTS


3/14

IN THIS PRESENTATION WE WILL COVER THE FOLLOWING

AREAS:

Definition of a short sale

What are the qualifications for a short sale? What is required of the home owner?

What should the home owner expect from the short sale process?

What are the advantages of conducting a short sale?

Why working with Bressani Real Estate is a sound decision?

Short Sale Resources

Jim Hamilton



[email protected]


CA DRE# 0181309




4/14

Jim Hamilton



[email protected]


CA DRE# 0181309


VALUE - SOLUTIONS -RESULTS

WHATIS A SHORTSALE?

A short sale is when your mortgage lender(s) and /or lien

holders(s) agree to take less than is owed so that you

can sell your home at the current market value.

Your home may be over-leveraged or underwater

You may be behind on your mortgage payments and can not get current

The balance on your loan may be more then what the current fair market

value of your home is.

Lenders create short sales as an alternative to foreclosure

A short sale is more financially beneficial to a lender resulting in a10-15% cost savings to that of foreclosure


5/14

Jim Hamilton



[email protected]


CA DRE# 0181309



WHAT ARE THE QUALIFICATIONS FOR

A SHORTSALE?

You must have a true financial hardship

Your loan must be in default status (in most cases a minimum of 90 days) You are facing imminent default while in a Must Sell situation

Have no equity in your home

Have no available assets

Have a lender and loan type with a clearly defined short sale process


6/14

Jim Hamilton



[email protected]


CA DRE# 0181309



WHATIS REQUIRED OF THE HOME

OWNER?

FIRST STEP:GET YOUR PROPERTYLISTED AT THE FAIR MARKET VALUE

Provide a copy of the listing agreement to your lender

Provide sufficient evidence to your lender that you have made a good faith

effort to sell your home for the highest market price that the market will bear


7/14

Jim Hamilton



[email protected]


CA DRE# 0181309



THE PAPERWORK LIST

LENDER REQUIREMENTS: Handwritten hardship letter

Financial Worksheet (your personal budget)

2 years most recent tax returns (with W-2s and all schedules)

2 months recent bank statements (all accounts and all pages)

2 months recent pay-stubs (or, if unemployed a statement stating such)


8/14


9/14

Jim Hamilton



[email protected]


CA DRE# 0181309



HELP YOUR REALTOR BY:

Allow the property to be shown

Maintain the home in show-able condition

Be accessible to your agent Have open lines of communication with your agent

Cooperate with all marketing efforts

Leave all utilities on if property is vacant


10/14

Jim Hamilton



[email protected]


CA DRE# 0181309



WHAT TO EXPECT DURING THE SHORT

SALE PROCESS

SHORT SALES TAKE TIME TO COMPLETE (3-4 MONTHS ON AVERAGE)

AND REQUIRE CONSIDERABLE PATIENCE AND COMMUNICATION

BETWEEN ALL PARTIES INVOLVED

Home is marketed effectively

A purchase offer must be received

Short Sale package must be submitted to lender

Bank orders appraisal Negotiations between lender and agent

Property is sold for the highest and best price for lender


11/14

If you have a foreclosure notice notify your agentIMMEDIATELY andprovide all current foreclosure documentation that you currently received.

Dont panic as you still may have time to conduct a short sale if a reasonableperiod of time is available to locate a qualified buyer. If a buyer is located anda fully executed contract is in place before your foreclosure date, we may be

able to convince the lender to post phone the foreclosure sale.

LENDERS ARE IN THE BUSINESS OF LENDING

MONEY NOT OWNING REAL ESTATETHEY DONT WANT YOUR PROPERTY!

Jim Hamilton



[email protected]


CA DRE# 0181309



HAVE YOU RECEIVED A FORECLOSURE

NOTICE?


12/14


13/14

Jim Hamilton



[email protected]


CA DRE# 0181309



WHY CONDUCT A SHORTSALE WITH

BRESSANI REAL ESTATE?

Extensive Knowledge of the short sale real estate market

Will insure your lender receives the highest and best price for the property

(insuring a high approval rate)

Works hand in hand with a team of short sale experts with over 125+ years

of combined real estate experience

Negotiate fearlessly with your lender on your behalf

Ethically obligated to protect your interests

Certified Short Sale Expert


14/14

Making Home Affordable

U.S. Department of Housing and Urban Development

Right Tools, Right Now

HOPE NOW

U.S. Foreclosure Network

SHORT SALE VS. FORECLOSURE

SB 931

Attorney Referral List



SHORTSALE RESOURCES

Bressani Real Estate - Short Sale Listing Presentation 1-12-11

Documents

Transcript of Bressani Real Estate - Short Sale Listing Presentation 1-12-11