Memphis Real Estate Podcast with Rita Driver - How to Prepare for a Short Sale

How to Prepare for a Short Sale

02/09/17 • -1 min

Memphis Real Estate Podcast with Rita Driver

Experts say that another wave of short sales is heading for the real estate market. Today, Tammy Leeth and I go over a few ways that we can help you through this process.

Selling your home? Get a free home valuation.

Buying a home? Search the local MLS.

Today I’m joined by Tammy Leeth, who has worked with me for several years now. We want to talk to you about short sales. Our market is starting to move and experts are predicting another wave of short sale properties.

We don’t want to see anyone go to foreclosure. We are here to help you.

If you do need to have a short sale, we will need your bank statements from the last two weeks as well as your pay stubs. We will also need a letter of hardship. This can be a handwritten letter that describes your financial situation. Whether you have lost your job, someone in your family is ill, or something else has happened, simply write down what the situation of the financial hardship is and why you need to short sale your property.

Now, even though it’s called a short sale, this is not a short process. Short sales can actually take a long time. However, we are working to minimize the damage to your credit through a short sale. We are here to help you and your family through this situation so that you can take care of them without worrying about your mortgage company kicking you out of your house.

We are here to help you and your family through this process.

The sooner you get in touch with us, the better opportunity we have to assist you.

If you get a short sale, you will be able to purchase a home sooner than you would if you had a foreclosure. Foreclosures really damage your credit. We want to help you through the short sale process and help you figure out what you need to do to rebuild your credit so that you can buy a home sometime down the road. You won’t have to wait eight years like you would with a foreclosure.

We are working to help you with your future. L...

Buying a home? Search the local MLS.

We are here to help you and your family through this process.

Previous Episode

What’s the Best Way to Prepare Your Home for the Market?

If you’re selling your home, the best way to prepare it for the market is the ‘sparse and sparkle’ method. Here’s why.

Selling your home? Get a free home valuation.

Buying a home? Search the local MLS.

If you’re a seller, how should you present your home for the market?

I get asked variations of this question a lot, and the best way to sell a home is the ‘sparse and sparkle’ method. This is because you want others to be able to envision being able to live in your property. If the interior is too cluttered, potential buyers will already feel like they’ve outgrown the property before they even consider moving into it.

Use the ‘sparse and sparkle’ method to make your home sell quickly.

If you’re a seller start decluttering. We’re looking forward to a very strong market in 2017. The election is over, and so are the holidays, which means you need to be ready for the upcoming spring market.

If you’re buying, selling, or you need some more pointers about the ‘sparse and sparkle’ method, please don’t hesitate to give me a call. I’d be happy to help!

Next Episode

What Can Sellers Expect During the Closing Process?

Today Tammy and I want to go over what you can expect during closing as a seller.

Selling your home? Get a free home valuation.

Buying a home? Search the local MLS.

As a seller, what should you expect when you are getting ready to close?

Tammy takes over once you are under contract, so she is joining me today to talk about the closing process. Once you’re under contract, you’ll have a termite and a home inspection, both of which Tammy will help you order.

Tammy will also ask for some financial information from you that needs to go to the closing attorney so they can call and order a payoff. This allows them to know exactly how much is going to be sent to your mortgage company in order for you to receive your net proceeds and purchase your next home.

We will help you through every step of the closing process.

Your social security number is needed to make sure there are no judgments or liens against you in addition to those that are attached to the house. We strive to make sure we have all of that information prior to getting to the closing table so there are no delays. Tammy makes sure all of the necessary documents make it to the closing table.

You might not receive funds at the closing table, but don’t freak out. After closing is completed you will receive your money either from picking up a check at our office or having our attorney transfer the funds into your account, which is seamless and easy. Speaking of which, we are even getting to the point where you could close via Skype!

If you have any further questions or if you are looking to sell your home, please don’t hesitate to give us a call. We would be more than happy to help!