Considering a Moorpark Short Sale? Here are Steps to Complete the Short Sale Process.

Moorpark Short Sale Help, Certified HAFA Specialist, Certified Distressed Property Expert and Certified Pre-Foreclosure Specialist.The Moorpark Short Sale; To both buyers and sellers, the steps to a short sale may appear blurry and complicated. Buyers may be frustrated with the long short sale approval process, while sellers may realize that their lack of knowledge surrounding real estate short sales can be stressful and concerning as they contemplate the financial and legal consequences of the process.

While the short sale process in Ventura County and Moorpark may be tricky and full of possible complications, for a realtor who has experience and is familiar with the short sale process, it will be fairly a routine. An experienced short sale agent is able to assist you through a successful short sale and lend advice, guidance and support along the way.

Real Estate Short Sale Process – Step By Step

Below are some of the steps you will walk through with your short sale specialist so that you can ensure a successful short sale and a fresh start for you and your family.

While the specifics and documentation required may differ a bit from lender-to-lender or state-to-state, the general short sale process will be the same.

1. Find a Qualified Real Estate Short Sale Specialist

In the current market, there are many listing agents who – while they may be fantastic realtors – simply do not obtain the experience to successfully initiate a short sale. There are many bumps and hairpin turns on the road to a successful short sale, and many things can go wrong in the process. You’ll want a knowledgeable short sale realtor who can help you navigate this difficult road.

Be sure that when you’re looking for a short sale Realtor, you analyze their previous track record and experience with short sales. You’ll want an experienced short sale realtor that has successfully assisted many homeowners through the short sale process, and who can achieve the same results for you.

2. Prepare a Short Sale Hardship Letter

In order to get your lender to release their lien on your home and permit a short sale, you must create a hardship letter giving reasons as to why you need a short sale. The more sympathetic and challenging your situation is, the better your hardship letter will sound. Banks are also much more favorable towards Moorpark homeowners who are in a financial bind because of external or personal situations such as loss of employment, medical emergencies or illness, divorce, death, bankruptcy. Your short sale specialist may help you with the specific content on your short sale hardship letter.

3. Prepare a Short Sale Package

Your Ventura County Certified Short Sale Specialist. Loan Modification Denied? HARP re-fi denied? Want to avoid foreclosure?There are three essential necessities that must be met for a bank or mortgage lender to permit a short sale: the seller must display hardship, the seller must also provide evidence that the fair market value of their Moorpark home is inferior to that of the mortgage, and the seller must show that they are incapable of meeting their debt obligations. In order to prove the latter, the homeowner will need to organize a short sale package for submission to their lender.

Each lender may have different submission requirements, but they are typically seeking proof that the homeowner is unable to honor their debt. It is critical to seek the help of an experienced short sale realtor in preparing your short sale package, but the basic contents of your short sale package will likely consist of the following:

• Your hardship letter for short sale

• Authorization letter – this document permits your lender to disclose information to and work with your short sale specialist, lawyers, or other 3rd parties involved in helping you with your short sale. Your letter of authorization will involve your loan reference number, your full name, the date, your agent/lawyer’s name as well as contact information.

• Completed financial statement

• 2 years of your annual tax return

• 2 years of your W-2s

• Your recent payroll stubs

• Recent bank statements

• List of recent comparable sales or comparative market analysis – In order to give proof that your home will not sell for a sufficient amount to cover your mortgage, you will need to substantiate this fact with a comparative market analysis. Your real estate agent will prep this for you.

4. Put Your Home on the Market

Moorpark Certified Short Sale Specialist, Moorpark Short Sale Help, Certified Short Sale Negotiator, Stop Foreclosure Moorpark CA,  You’ll sign a listing agreement with your short sale agent, though it will be subject to short sale approval from your lender. Your realtor will then put your home on the market and solicit buyer offers as they would with a regular listing.

5. Accept an Offer

You’ll accept an offer that is close to or at fair market value. The lender will not approve a short sale if the offer is greatly inferior to the market value.

6. Submit Buyer’s Preapproval Letter, Earnest Money Deposit, and Seller’s Short Sale Package to Lender for Short Sale Approval

Once you have accept the proposal, your short sale realtor will submit the buyer’s preapproval letter, their earnest money check, as well as the short sale package you and your realtor have prepared to the lender. At this stage, most lenders have an internal process for managing short sale approvals, and a loss mitigator will be assigned to your file. It may take anywhere from a few weeks to many months for your short sale to be approved or rejected.

This is another aspect of the process where it’s critical to acquire a short sale specialist that will work for you. An experienced short sale realtor who has experience in short sale negotiations is far more likely to get your short sale approved and obtain forgiveness for the deficiency. A knowledgeable short sale negotiator is also more likely to obtain short sale approval more quickly by consistently following up with your lender and pushing the process forward.

7. Receive Short Sale Approval

If your short sale is approved, the bank will send a short sale approval letter. By this point, you may have been waiting a few weeks, or perhaps even up to half a year for short sale approval. The length of the short sale approval process will depend primarily on the lender, though in some cases your short sale negotiator may delay or speed up the process.

8. Deal closes & Lender Releases Lien

The buyer will deliver the funds, the seller will deliver the deed, and the lender will release their lien on the property. Depending on the short sale agreement negotiated by your short sale negotiator/short sale realtor, you may now be free of your debt responsibility. Alternatively, it is possible that you didn’t qualify for debt forgiveness and you will still be held accountable for the deficiency between the proceeds of sale and your initial debt.

Your Ventura County Certified Short Sale Specialist. Loan Modification Denied? HARP re-fi denied? Want to avoid foreclosure?While it is not always possible to obtain forgiveness of the deficiency in every short sale, this is yet another reason why you’ll want to work with a short sale specialist as opposed to just any listing agent. A realtor with experience in short sale negotiations ensures that you have the best chance possible of obtaining full forgiveness of your debt. Experienced short sale Realtors in Moorpark have plenty of knowledge working with loss mitigations in negotiating forgiveness of short sale deficiencies and can do the same for you. With the right expert and handling, your short sale might just be your solution to a fresh start, so be sure it’s in the right hands.

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Thanks for reading this,
Chris B Johnson, Realtor

Chris is a Real Estate Agent at Prudential California Realty.

Phone: 805-208-0823. cjohnson@prucalhomes.com.

Certified HAFA Specialist, Certified Short Sale Specialist, Certified Distressed Property Expert


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Chris B Johnson provides HAFA Loan Modification and short sales help, Short Sales in Moorpark, Short Sales in Thousand Oaks, Short Sales in Westlake Village, Short Sales in Newbury Park, Short Sales in Camarillo, Short Sales in Santa Rosa Valley, Short Sales in Somis, Short Sales in Lake Sherwood, and Short Sales in Simi Valley California. Moorpark Loan Modification Help, Thousand Oaks Loan Modification Help, Westlake Village Loan Modification Help , Newbury Park Loan Modification Help, Camarillo Loan Modification Help, Santa Rosa Valley Loan Modification Help, Somis Loan Modification Help, Lake Sherwood Loan Modification Help, and Simi Valley Loan Modification Help, Moorpark short sales , Thousand Oaks short sales, Westlake Village short sales, Newbury Park short sales , Camarillo short sales, Santa Rosa Valley short sales, Somis short sales, Lake Sherwood short sales, and Simi Valley short sales. Moorpark Short Sale Specialist , Realtor, Moorpark Short Sale Specialist , Realtor, Short Sale Specialist , Realtor, Ventura County CA Short Sales. Stop Foreclosure in Ventura County, Certified HAFA Specialist, Moorpark Short Sale Specialist, Thousand Oaks Short Sale Specialist, Westlake Village Short Sale Specialist , Newbury Park Short Sale Specialist, Camarillo Short Sale Specialist , Simi Valley Short Sale Specialist, Moorpark CA Short Sales, Thousand Oaks CA Short Sales, Westlake Village CA Short Sales, Newbury Park CA Short Sales, Camarillo CA Short Sales, Simi Valley CA Short Sales, Ventura County Foreclosure Help, Moorpark Foreclosure Help, Certified Home Affordable Foreclosure Alternative Specialist, HAFA, HAMP. CA. DRE 10501699.You can find Ventura County Short Sale Specialist, Realtor, at 587 W. Los Angeles Avenue, Moorpark, CA. 93021Chris also specializes in loan modification assistance and short sales in Ventura County California. Ventura County Loan Modification Help, Ventura County Short Sales.
Ventura County Short Sale Specialist, Realtor, Short Sale Specialist, Realtor, Ventura County CA Short Sales. Ventura County Specialist, Realtor, www.theshortsaleguide.com ,
Certified Home Affordable Foreclosure Alternative Specialist . Always check with a good real estate attorney to find out the laws in your state. There are also legal aid non profits that can give you advice on what to do to stop a garnishment or bank account seizure. You should also look at California SB458. With the passage of SB458, the Expanded Anti-Deficiency Law May Have Unintended Consequences on Ventura County Short Sales. So Please read http://venturacountyshortsalerealtor.com/?p=948.

For Disclosure, and more information on Mortgage Assistance Relief Services, please see Code 16 of Federal Regulations (FTC), Part 322, or , http://www.ftc.gov/opa/2010/11/mars.shtm and always consult your CPA, Accountant, Financial Advisor and Attorney before you any financial or legal decisions. Also seehttp://venturacountyshortsalerealtor.com/?p=1066.

To Read More: Click here.
Loan Mod vs Short Sale Click here.

Income Property Info Click here.

Chris B is a Real Estate agent at Prudential California Realty (License No. 01501699), covering the greater Moorpark area.
Phone: 805-208-0823
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short sale agent in Moorpark

short sale agent in Moorpark    Moorpark short sale realtor    short sale specialist in Moorpark

Helping Moorpark home owners avoid foreclosure with a short sale.
Chris B Johnson specializes in short sales in Moorpark .I am your Moorpark Short Sale Specialist Realtor and Moorpark loan modification and distressed property expert. This article and content is for general informational purposes and may not be accurate. This should not be taken as legal advice, technical or tax advice under any circumstance. Seek legal advise and representation in all legal matters.
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