Short Sale Process - Fresno Short Sale Expert

http://www.fresnocountyshortsaleblog.com/
The Short Sale Process can be a little tricky and completely foreign to some real estate agents. That is why it is important to that you chose a real estate expert who has a background of successfully completing short sales. A lot rides on the real estate agent. The average time frame is 3-4 months.
The first step in the Short Sale Process is to see if you qualify. In order to qualify for a short sale you must have a hardship. The following are examples;
Unemployment, divorce, medical emergency, sudden illness, death, bankruptcy, increase in mortgage payment due to resetting of ARM(s)
The next step in the Short Sale Process is marketing the property until it receives an offer. A good agent can get an offer within a month.
Once the bank has received an offer they proceed on to do an evaluation on the property. This takes about two weeks.
When the value has come back to the bank, they then counter the offer. Going back and forth from the bank and the buyer can take around two weeks as well (the banks are extremely slow). Once the purchase price has come to an agreement, escrow is then opened. Escrow takes around 45 days. Once escrow is closed the short sale process is now complete.
For more information about loan modifications or short sales please visit:
http://www.fresnocountyshortsaleblog.com/

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[tube000005]

Thank you this really helped me out.

[TajPamma08]

Thanks for the info! keep up the good work

[Silentknightist]

Great video. Please post more!