Should I take that short sale listing? How to pe-qualify a short sale Listing in the state of California.
Submitted by petegliniak on Sat, 05/03/2008 - 1:06am.
All you need to know to determine if a short sale listing in California will have a chance of closing:
1.) How behind are your sellers on their payment/s (Use forecloseradar.com to check for NOD dates
2.) Who are the current servicing lenders (mortgage companies), What are the principle balances of the loan & what type of loans they are.
3.) What is the value of their property. Base off of the 3 lowest sold and 3 lowest active comparables.
4.) Call a short sale processing company like ours that has relationships with banks and experience getting short sales closed.
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