Go With Your Best Option - Sleepless in Sturbridge

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Why "NOT A SHORT SALE" is Such a Selling Point!

Why "NOT A SHORT SALE" is Such a Selling Point!  

If you are a homebuyer in today's marketplace I'm sure you've seen the listing remarks out there "NOT A SHORT SALE" advertised and wondered why they'd stress that point?   This is indeed a HUGE selling feature today.  Most buyers don't understand what the term short sale really means.  Here are some of the risky truths behind them:  

Short Sale = LONG Sale...only short thing about them is the fact that the seller owes more than what the home is worth so the current lender will have to accept a SHORTAGE in payoff

Home Inspections must be completed BEFORE lender approves the offer but after the seller approves.  This means if the lender does not accept the seller's request for a short sale down the road you are losing that inspection money.  Part of the risk involved in gaining the reward of purchasing one of these homes.  

On average the short sales I've worked on have been taking between 4-6 months to close.  I have heard cases of 9+ months as well as had an approval in as little as 3 weeks.  They vary and there is no rhyme or reason to the time period it takes.  

There are tons of things you can do to make sure you're getting a great deal and that you're protected, but they will always be higher risk than a traditional sale.  To make sure you're covered, work with an experienced short sale Realtor that can guide you through the process.  I am happy to help!  

Your short sale specialist, 

Kath  

 

 
 
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            Kathleen Cooper Best Option *** RE/MAX Professional Associates *** LICENSED IN MA!

                      

THIS BLOG WAS BROUGHT TO YOU BY:
Kathleen Cooper
RE/MAX Professional Associates 

YOUR Social Media Girl
Providing Social Media Training & Coaching - Click the picture to Follow My Fan Page & Learn More About How I Can Help You Grow!

Phone: 508-444-2673
Email:  BestOptionTeam@Gmail.com 

 

Sleepless in Sturbridge

 

 

 

      


8 comments • Kathleen Cooper, RE/MAX,Broker, REALTOR® • March 17 2012 09:17AM

Funny Short Sale Video - It Pays To Hire An Experienced Professional!

Here's another funny RE/MAX video for you!  I love these!!!  There are so many agents out there that don't have the first clue about short sales and how they work.  It pays to hire an experienced professional with a track record.  There are a million ways to do your research and get educated.  You can read blogs, watch videos and do online training to help you better service your short sale clients.  Call us at 508-523-8632 if you are thinking about selling your home through the short sale process.  We want to help!

 

 
 
Watch My Popular Video Blogs:

  



 

            Kathleen Cooper Best Option *** RE/MAX Professional Associates *** LICENSED IN MA!

                      

THIS BLOG WAS BROUGHT TO YOU BY:
Kathleen Cooper
RE/MAX Professional Associates 

YOUR Social Media Girl
Providing Social Media Training & Coaching - Click the picture to Follow My Fan Page & Learn More About How I Can Help You Grow!

Phone: 508-444-2673
Email:  BestOptionTeam@Gmail.com 

 

Sleepless in Sturbridge

 

 

 

      


13 comments • Kathleen Cooper, RE/MAX,Broker, REALTOR® • October 21 2010 10:11PM

What Will A Short Sale Cost The Seller?

What Will A Short Sale Cost The Seller?


When you are ready to sell your home, there are many fees associated with it.  In addition to paying off liens for mortgages on the property, you have to pay real estate commissions, taxes, attorney fees and other miscellaneous stuff.  These are the costs usually paid for by the seller, but in a short sale the lender pays these things.  

Sometimes the lender will also pay for:

  • Overdue taxes
  • Back association fees
  • Past due sewer and water fees
  • Payments to other lien holders
  • Closing costs requested by the buyer
What's in it for the lender?  It costs much more money to go through with the foreclosure proceedings and they risk having more damage done to the house when past homeowners are forced to move out.  

Almost all of the time the short sale is free for the seller.  Call us today to find out if a short sale is your best option - 508-523-8632.  We will setup a confidential consultation with you explaining the process and what you need to do to get started.  We're happy to help!  Check out these 5 signs that you may need to do a short sale.   

 

 
 
Watch My Popular Video Blogs:

  



 

            Kathleen Cooper Best Option *** RE/MAX Professional Associates *** LICENSED IN MA!

                      

THIS BLOG WAS BROUGHT TO YOU BY:
Kathleen Cooper
RE/MAX Professional Associates 

YOUR Social Media Girl
Providing Social Media Training & Coaching - Click the picture to Follow My Fan Page & Learn More About How I Can Help You Grow!

Phone: 508-444-2673
Email:  BestOptionTeam@Gmail.com 

 

Sleepless in Sturbridge

 

 

 

      


9 comments • Kathleen Cooper, RE/MAX,Broker, REALTOR® • October 17 2010 09:16PM

Is A Short Sale Really Better For You Than A Foreclosure???

Is A Short Sale Really Better For You Than A Foreclosure???


You've asked and I'm here to give you the answer!  I've heard the argument that a short sale isn't really better than a foreclosure and then there's the argument on whether or not a short sale will hurt your credit.  Here are the facts:  

Short Sales WILL hurt your credit!  It's going to effect your credit score just as badly as a foreclosure would.  

So if a short sale is going to still hurt my credit, why bother?  
Do you plan on buying a home again in the future?  Well if you do, you should know that the nation's two largest mortgage investors, Fannie Mae and Freddie Mac (with exceptions) won't lend to you again for 5 years if you go through a foreclosure, but that's reduced to 2 years if you successfully complete a short sale.  3 years faster to being a homeowner again, that's a good reason in itself!  

Speak to your tax professional!
Whether you choose to do a short sale or a foreclosure, there can be tax repercussions if you are not careful.  Talk to your tax professional and attorney first to make sure you're not going to have to claim the loss or shortage as income.

So all in all you're much better off doing a short sale if you want to earn your buying power back faster.  Save yourself the 3 years and get on the road to recovery faster with a short sale!  

If you or someone you know is looking to sell their home using the short sale process, call us at 508-523-8632 or email jckcrealty@gmail.com for a confidential meeting to discuss all of your options.  We are here to help!

 

 

 
 
Watch My Popular Video Blogs:

  



 

            Kathleen Cooper Best Option *** RE/MAX Professional Associates *** LICENSED IN MA!

                      

THIS BLOG WAS BROUGHT TO YOU BY:
Kathleen Cooper
RE/MAX Professional Associates 

YOUR Social Media Girl
Providing Social Media Training & Coaching - Click the picture to Follow My Fan Page & Learn More About How I Can Help You Grow!

Phone: 508-444-2673
Email:  BestOptionTeam@Gmail.com 

 

Sleepless in Sturbridge

 

 

 

      


24 comments • Kathleen Cooper, RE/MAX,Broker, REALTOR® • October 01 2010 07:19AM

What Is A Short Sale?

WHAT IS A SHORT SALE? 

Short sales, which some agree should be called LONG sales, have been around for awhile now.  I still hear the question on a weekly basis, "what is a short sale?"  A short sale is a process of selling your home for fair market value, which is less than what you currently owe on the property.  Example, I bought my home in 2004 for $289,000 and can't afford making the payments
on it anymore.  The market has come down since then and similar homes are all selling for $240,000 now.  No buyer will pay $289,000 for my home in this market, so I have to price it with the homes listed at $240,000.  In this case, I normally wouldn't be able to pay a real estate agent or the bank with the shortage I'd be getting from the new buyer, but with the bank's approval, I will be forgiven the difference.  

Now why do I say short sales should be called LONG sales?  Because they take super long!!!!  Well, in most cases they have.  They're actually getting much better, but last year they took an average of 4-12 months from the time the offer was accepted until the time it actually closed.  This year we're seeing 3-6 months now.  

The main objective when listing a short sale is pricing it for a 30 day offer.  You want to get that offer and short sale package submitted to the lender as soon as possible for your clients to get the process rolling.  

If you or someone you know is thinking about selling a home via short sale, give me a call and let me help you decide if that's the best option for you.  I can be reached on my cell at 508-523-8632 or by email at jckcrealty@gmail.com.  All appointments are confidential.  I look forward to helping you!  

 

 
 
Watch My Popular Video Blogs:

  



 

            Kathleen Cooper Best Option *** RE/MAX Professional Associates *** LICENSED IN MA!

                      

THIS BLOG WAS BROUGHT TO YOU BY:
Kathleen Cooper
RE/MAX Professional Associates 

YOUR Social Media Girl
Providing Social Media Training & Coaching - Click the picture to Follow My Fan Page & Learn More About How I Can Help You Grow!

Phone: 508-444-2673
Email:  BestOptionTeam@Gmail.com 

 

Sleepless in Sturbridge

 

 

 

      


3 comments • Kathleen Cooper, RE/MAX,Broker, REALTOR® • September 28 2010 10:29AM

Selling Via Short Sale? DON'T Stop Paying Your Mortgage!

Selling Via Short Sale? DON'T Stop Paying Your Mortgage! 

To pay or not to pay, that is the question!  If you are looking to sell your home using the short sale process, DO NOT stop paying your mortgage.  I've heard mixed answers to this question from all kinds of real estate professionals, but the highly professional Attorney Scott Wrenn advised us in a seminar this week to encourage our clients to keep paying for as long as financially possible.  

It is common sense - if you stop paying your mortgage and fall into default, your lender is going to start the foreclosure proceedings.  If this becomes the case and you do not find a buyer for your short sale soon enough, you are going to lose your house out from under you.  Continuing to pay the mortgage and maintain the upkeep in the property will ensure a much more successful attempt at selling your home via short sale and saving some of your credit for the future.  

If you or someone you know is looking to avoid foreclosure we can help!  The JCKC Team partnered up with Attorney Scott Wrenn can guide you through the short sale process at ease.  It's not always a short process, but you can rest easily that it will be a comfortable process with us by your side.  Call me at 508-523-8632 for more information.  Every meeting is confidential and we can just discuss your options.  

Looking forward to hearing from you! 

 

 
 
Watch My Popular Video Blogs:

  



 

            Kathleen Cooper Best Option *** RE/MAX Professional Associates *** LICENSED IN MA!

                      

THIS BLOG WAS BROUGHT TO YOU BY:
Kathleen Cooper
RE/MAX Professional Associates 

YOUR Social Media Girl
Providing Social Media Training & Coaching - Click the picture to Follow My Fan Page & Learn More About How I Can Help You Grow!

Phone: 508-444-2673
Email:  BestOptionTeam@Gmail.com 

 

Sleepless in Sturbridge

 

 

 

      


9 comments • Kathleen Cooper, RE/MAX,Broker, REALTOR® • September 23 2010 09:03PM