STEEL & CLARK
R E A L E S T A T E
Real Estate Sales, Investments and Consulting
Free of charge to Sellers - We Cost You Nothing !!!
Contact us for more details.
Bob Steel & Leah Clark
We are Licensed Real Estate Brokers with the designations of
Certified Distressed Property Expert,
Certified Short Sale Resource,
Certified Short Sale and Foreclosure Resource and
Certified HAFA Specialist
and we have many years of expirience.
Most agents today are not trained to do short sales.
They take a short sale listing and then pass your personal information on
to a 3rd party unlicensed short sale negotiator to handle the negotiating for them
at your expense or at your buyers expense.
They don't understand the short sale process and they don't want to do the extra work.
We do all our short sales personally,
we keep all your personal documents private
and we never charge you or your buyers any additional fees.
Actually, we cost you nothing,
because your mortgage company pays our commission.
We understand the idea of losing a home or trying to sell a home can be overwhelming,
and we feel it is vital for you to have all the facts necessary to make an informed decision.
The best course of action for a homeowner is to speak with a well-informed, licensed real estate professional.
We have the tools needed to help homeowners find the best solution for their specific situation.
So please, when it's time to choose,
Let Us Help You!!!
“We don't merely assist in selling properties, we serve and help our clients in need.”
Frequently Asked Questions
What is a Short Sale?
A Short Sale can be an excellent solution for homeowners who need or want to sell, and who owe more on their homes than they are worth.
A Short Sale is the sale of a home for less than what is owed on the property. The lender accepts and approves the sale of the home at a discounted price to fully satisfy the loan.
The good news for you, the existing lender pays commissions, escrow, title fees, and repair costs (if any). Your home gets sold, the loans are paid off and you are out from under that mountain of debt.
Is a Short Sale for me?
With the continued economic hardship we are facing today, many homeowners are suffering financially with no means of relief in sight.
Many bought their homes or refinanced when values were at an all time high. They now owe way more than they are currently worth with no signs of values returning in the near future. And to make matters worse, we are suffering from jobs being lost, income reductions, increases in living expenses and many other factors making it exceedingly difficult to make ends meet.
If you are facing a hardship that makes it likely that you may not meet the obligation of paying your mortgage now or in the future, or if you are depleting your savings, investments, or retirement trying to keep up with your payments, a short could be the best choice for you.
When considering the option of a Short Sale, also remember that if you are upside down in your home, it could take many years for the value to return to the mortgage amount. Can you wait that long?
Steps to a Successful Short Sale
1. Contact us: The first step in the short sale process is to hire a Realtor to represent you in selling your property and negotiating with your lender . We will meet with you to preview your property, discuss your particular circumstance, and offer different strategies as how to best proceed.
2. We contact your lender on your behalf to determine your lenders requirements.
3. We list your property for sale. Getting a good price and a good buyer helps ensure that your lender will approve the short sale request. We will advertise and market your property, conduct an open house and interface with prospective buyers and their real estate agents.
4. A buyer interested in purchasing your home, may write an offer to purchase, which you may accept contingent upon your mortgage lender’s short sale approval.
5. Once we receive an offer, we will prepare a short sale package for submission to your lender.
A short sale package generally includes information about you, your financial situation, your property, and your sales transaction. Your lender may require a hardship letter explaining the reasons your are unable or unwilling to repay your mortgage loan. We may have to obtain short sale approval from other creditors with a security interest in the property you are selling, such as second trust deeds. After we’ve submitted your short sale request, the lender’s response generally takes many weeks to many months.
6. Once we receive approval, we will contact the escrow company. The property will be appraised and inspections may be performed . Towards the end of the transaction, you will generally go to the escrow office to transfer title of the property to the buyer. In the meantime, the buyer goes into escrow to deliver funds for the down payment and closing costs and signs loan documents for the funding of the buyers loan if any. The sale is consummated, possession of the property is transferred and the escrow officer disburses all the funds accordingly.
7. The Short Sale is complete.
How do I get started on a Short Sale?
It's easy. Give us a call.
We will personally negotiate with your mortgage company on your behalf to accept less than the full amount owed on your mortgage.
Many agents farm this out to third party negotiators who do not take a personal interest in your Short Sale, but We do. Leah is a top negotiator in this field and we will personally give our all to get your Short Sale done successfully.
Sadly, Not all agents are trained to do Short Sales and a well trained professional is the key to Short Sale Success.
If you are interested in getting pre-qualified for a Short Sale, Call us at 209-609-2635 or 209-679-3333