How to do a short sale, that is the question. Homes that were bought at the peak of the market in 2005 or 2006 and mortgaged with a maximum loan to value ratio may be underwater, meaning that the FMV (fair market value) may be less than the current balance of the mortgage. In order to sell the home, the price will have to be reduced to the FMV, and that will require the bank’s cooperation. The bank will have to agree to accept a loss in order to facilitate the sale. But most people and Realtors are wondering how to do a short sale.
How do Do a Short Sale
How to do a Short Sale in this Market
In this short video on how to do a short sale, you can take a look at the online short sale engine that helps organize and manage all of the documentation needed to coordinate a short sale with all of the parties involved. Simply go to Short Sales Online.
How to do a Short Sale Online
Getting a short sale done is no task for the uninitiated. I kid you not, short sales are difficult to get done with all the paperwork required and all the coordination required over a period of weeks or months. Many short sales fail, and there are a dozen reasons short sales fail. If you have a home for sale in Sequim or Port Angeles, and it needs to be a short sale, email me for assistance. I’d be glad to help answer your questions on how to do a short sale.
Last Updated on September 2, 2019 by Chuck Marunde
There seems to be a lot of people who want a short sale, but aren’t willing to put in the time or energy that goes along with it. It is important to remember that buying a house is never a simple task. The video is very helpful!