What are the fundamentals of a short sale? Here is a quick blog post on an overview of a short sale. You can do short sales in any state in the country. We usually work in Massachusetts but the set-up is the same for any state in a country. So, you have a homeowner and […]
The importance of pulling title upfront on your short sale Title work is important! If you start a short sale and you have not officially checked the title, your sale could end at approval time. Let’s say you move all the way through the approval process, only to find out there’s an undischarged mortgage on […]
So, Rushmore is the servicer of your short sale. Well, good luck. I’ll give you an example of our latest short sale with them. Let’s say you have a property that is under contract for $350,000. The buyer of that Massachusetts short sale offers a $350,000 and the seller accepts it. Next, you send your […]
Rushmore has an interesting game they play when they say they are ACCEPTING your offer!! Find out how to be prepared, when you get short sale approval.
Plymouth MA #SHORTSALE APPROVED in less than 14 days! Yes! We had a short sale approved in less than 14 days from submission to approval. Keep them coming like that.
We are liable to get 4-8 short sale approvals in a week and we thought it would be of interest to cover specific language you want to see on your approval and what you don’t want to see on your approval.
Why I Like and Don’t Like Negotiating short sales with Select Portfolio Servicing We just got another short sale approval this week from Select Portfolio Servicing, Inc. This was for a property in Scituate, Massachusetts. I’ve noticed the same trends each time we negotiate a short sale with SPS. Overall, they get a two thumbs […]
AHMSI – We submitted a deal to AHMSI. Property list price $279,000 – Offer $267,00 – NET TO AHMSI $244,000 – The approval came back in 5 days. Now before become bug-eyed, you should know we had a previous offer on the table, the buyer walked, relisted property. SO BPO was done already, however on […]
An approval of a short sale actually comes in writing. So unless a previous buyer had come in, put an offer in, got an approval and walked before closing, chances are the SHORT SALE APPROVED on the listing you read just means that the listing price has been approved by the lender.