Northwest Indiana Real Estate Sales Subject To Bank Approval of Short Sale.
Northwest Indiana Real Estate Sales
Subject To Bank Approval of Short Sale.
Every Real Estate Transaction is Different.
especially true when it comes to the purchase of a home in Northwest Indiana when
the offer is contingent upon the home seller’s lender approval of a short sale.
have changed over the past several years. i.e.:
* The task driven computerized EQUATOR
system did not exist. Talking with the
seller’s lender representative in the USA was how the short sale process was
initiated and completed.
Policies and Laws have also changed:
- There were no Federal Programs for distressed
home owners HAFA was not an option for
lenders to offer sellers who qualify
events affecting the short sale process were not as prevalent either:
Many factors may affect the time
frame for getting short sales done.
- Seller cooperation throughout the entire listing, showing and offer
- Buyer cooperation with longer
transaction time and in completing due diligence (i.e. home inspection and
appraisal) prior to lender final approval.
- Number of junior liens or judgments
- Type of short sale HAFA verses non
- Varied Internal Policies by Individual Banks and Differing Investor Guidelines
- Additional parties MAY BE involved potentially lengthening the time from
offer to closing i.e.Asset Management Companies, HUD Approval, Attorney, Court
Approval, FHA 203k bid process, etc…
When you are choosing a Real Estate Broker to represent you in
the sale or purchase of a Northwest
Indiana Property subject to lenders Approval of a Short Sale, past performance should be carefully
Jeff Safrin Real Estate Broker/Owner of F. C. Tucker
1st Team Real Estate serving Northwest Indiana:
- Is an S.F.R. = Short Sale and
Foreclosure Resource Certified REALTOR recognized by NAR – National Association
- Certified as Expert witness – Jeff
Safrin has given testimony for Property Value determination for attorneys and
performed Broker Price Opinions for Court, various Asset Management and Relocation
Talk To Tucker for your Northwest Indiana Real Estate Needs
Filed under: short sales northwest indiana, HAFA, titlework, Investor guidelines for short sales, FHA 203k bid process, Asset management company, judgments, junior liens, HUD Approval, BPO, Equator system