Before we can list your home as a short sale, we’ll need to ask you a number of questions to determine (a) whether you may be eligible for a short sale; (b) whether a short sale is the right option for you; and (c) the likelihood that your transaction could close as a short sale.  Here are some of the most important questions:

  1. Are you currently living in your home?
  2. What was the purchase price of your home when you bought it?
  3. Did you use a conventional, FHA, or VA loan?
  4. How long ago did you purchase it?
  5. Whose names are on the mortgage note?
  6. Whose names are on the title to the property?
  7. How much do you still owe?
  8. Who is your mortgage company/lender?
  9. How many mortgage liens are there on the property?
  10. Do you have any past-due property taxes or HOA dues?
  11. Have you taken out any home equity loans?
  12. Are there any other  liens on the property that you’re aware of, such as income tax liens?
  13. When was the last mortgage payment you made?
  14. Could you resume your monthly payments if the bank would waive or negotiate a payment plan for the past-due amount?
  15. Do you currently have or have you applied for a loan modification/work-out plan or other alternatives with your bank?
  16. What communications have you received from your lender(s)? What did they say, and when did you receive them?
  17. What is the condition of your home?
  18. What has changed in your financial situation since you purchased the home?

There are other questions that may arise during an initial consultation, but these will generally provide enough information to get started.

To learn more, call Sara Abbas at (512) 522-4990 today, and find out if a short sale is right for you.